Bessent: "IRS to set up a task force to investigate fraud tied to COVID-19 tax incentives"

JH Kim

Summary

U.S. Treasury Secretary Scott Bessent said the Internal Revenue Service (IRS) will set up a dedicated task force to investigate fraud involving the abuse of tax incentives introduced during the COVID-19 period.
Bessent said various tax credits and support programs implemented during the COVID-19 response may have been improperly used in some cases.
He said the IRS plans to systematically review the relevant programs and respond strictly to illegal acts.

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According to Walter Bloomberg, an economic breaking-news channel, on the 9th (local time), U.S. Treasury Secretary Scott Bessent said the Internal Revenue Service (IRS) will establish a dedicated task force to investigate fraudulent activity that exploited tax incentives introduced during the COVID-19 period.

Bessent said various tax credits and support programs implemented as part of the COVID-19 response may have been improperly used in some cases, adding that the IRS plans to systematically review them and respond strictly to illegal acts.