IRS Cracks Down on Surge of Potentially Fraudulent Small Business Tax Break Claims

IRS Commissioner Danny Werfel speaks about surge in questionable small business tax break claims
IRS received 3.6 million claims, with over 600,000 in last 90 days
As of July 1, 2023, 252 IRS investigations initiated on $2.8 billion potentially fraudulent claims
15 of 252 investigations resulted in federal charges, 6 of those in convictions
IRS urges small businesses to consult trusted tax professionals, not promoters taking refund chunks
IRS working on settlement program for small businesses that wrongly received refunds

cnbc.com

Relevant topic timeline:

9/8/2023

IRS Pursuing 1,600 Millionaires and 75 Large Businesses Owing Hundreds of Millions in Unpaid Taxes

The IRS is targeting 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes using AI tools and increased funding, signaling a crackdown on wealthy tax evaders.