IRS investigates nearly $9B in pandemic fraud

April 4, 2024

The IRS Criminal Investigation (CI) division has investigated 1,644 tax and money laundering cases related to COVID-19 fraud, potentially worth $8.9 billion, according to statistics released by the agency.

With a 98.5% conviction rate, the IRS has indicted almost 800 people and sentenced 373 to an average of 34 months in prison.

The IRS continues to open new pandemic-related fraud investigations, amounting to $5 billion in potential fraud in 2023 alone.

The agency said funding from the 2022 Inflation Reduction Act will help provide more resources to expand the CI’s ongoing fraud-protection work. Read more.

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