(Zero Hedge)—The Internal Revenue Service Criminal Investigation (IRS-CI) division, the armed enforcement wing of the IRS tasked with combating financial crimes, has expanded its workforce by nearly 11 percent, bringing staffing levels to their highest in nearly a decade and boosting the division’s conviction rate to 90 percent, according to the IRS-CI’s latest annual report.
As Tom Ozimek reports, via The Epoch Times, the fiscal year 2024 report, released on Dec. 5, outlines a year of intensified enforcement for the IRS-CI, which serves as the tax agency’s law enforcement branch that focuses on tax violations that cross into criminal territory.
The report shows that the division achieved several firsts over the past year, including the first sentencing for syndicated conservation easement schemes, the first cryptocurrency tax fraud indictment, and a record-setting financial settlement with Binance, the world’s largest cryptocurrency exchange, for anti-money laundering violations.
IRS-CI special agents, who are authorized to carry guns and use lethal force, now number 2,290 after a hiring spree added 146 employees to its ranks over the fiscal year. The division’s overall workforce expansion is the largest in nearly a decade, bringing total headcount to 3,474 employees. Between 2010 and 2020, the division’s staffing numbers fell from 4,017 to 2,858.
IRS-CI Chief Guy Ficco said in the report that the demands on the division’s workforce have increased as “criminals utilize new venues, revise their techniques, and use emerging technologies to facilitate financial crimes.”
A turnaround in hiring in recent years across both the criminal investigations unit and the IRS more broadly has been fueled by the $80 billion funding boost under the 2022 Inflation Reduction Act, around $20 billion of which was later clawed back. Roughly $46 billion of the funding boost was designated for enforcement, a contentious part of the package that drew opposition from some Republican lawmakers, who argued it could lead to increased tax audits on lower- and middle-income Americans.
According to the fiscal year 2024 report, the IRS-CI launched 2,667 criminal investigations, leading to 1,571 convictions. The division raised its conviction rate from 88.4 percent in the 2023 fiscal year to 90 percent in 2024, which ended Sept. 30.
The division also uncovered $9.1 billion in fraud from tax and financial crimes, obtained $1.7 billion in court-ordered restitution, and seized approximately $1.2 billion in criminal assets.
The IRS-CI also expanded its international footprint by launching a new attaché post in Nassau, Bahamas, and a cyber attaché post in Singapore.
Ficco said in the report that the division’s focus heading into 2025 is to leverage its expanded resources and expertise to pursue financial crimes and protect the integrity of the U.S. tax system.
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
