The IRS releases its fiscal year 2020 criminal investigation report.

The report details cases involving fraudulent claims for Economic Impact Payments, Paycheck Protection Program (PPP) loans and refundable payroll tax credits from the CARES Act.

For example, a Florida man was charged with fraudulently obtaining $3.9 million in PPP loans and using those funds, in part, to purchase a Lamborghini sports car worth $318,000. At the time of his arrest, authorities seized the Lamborghini and $3.4 million in bank accounts. The report notes that in fiscal 2020, the IRS was able to identify over $10 billion in tax fraud and other financial crimes. Read the report: http://bit.ly/2VcC2ob