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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIRS' criminal investigation chief says agency prepared for crypto tax crimes: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Guy Ficco, criminal investigation chief at the Internal Revenue Service, explains how your crypto holdings could affect your tax obligations.
Persons: explainers, Guy Ficco Organizations: IRS, CNBC Crypto, CNBC, Internal Revenue Service
The Internal Revenue Service has opened 20 criminal investigations in its crackdown on the evasion of sanctions that the U.S. imposed after Russia’s invasion of Ukraine, an official said. The law-enforcement unit at the tax-collection agency opened the probes as part of its work with Task Force KleptoCapture and continues to develop new leads, Guy Ficco, the criminal investigation division’s deputy chief, said at a press conference Thursday. The IRS has taken a leading role in the task force, but the 20 investigations cited aren’t the total number of probes by all task force members, Mr. Ficco said. The IRS’s criminal investigation division expects to significantly increase its number of special agents, said division chief Jim Lee. About 91% of IRS criminal investigation cases referred to prosecutors lead to convictions, Mr. Lee said.
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