The “ingenuity and innovation of criminals” keeps the new chief of the IRS criminal investigation division up at night.
Guy Ficco started his new gig in April following an almost three-decade career at the agency. He comes into the position at the same time the IRS is flush with tens of billions in funding from the Democrats’ 2022 tax-and-climate law.
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In fiscal year 2023, CI initiated more than 2,676 criminal investigations and identified over $37.1 billion from tax and financial crimes. The division has a 88.4% conviction rate on cases accepted for prosecution.
Bloomberg Tax reporter Erin Slowey spoke with Ficco about how CI is handling its pandemic-era tax credit cases, what retention at the division looks like, and how the volume of investigation referrals has changed in the past couple of years.
—Produced by Matthew S. Schwartz.
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