Senate Democrats Seek Probe Into ‘Fake’ Credits Tied to IRS Pick

The IRS should open a criminal investigation into firms that have promoted nonexistent sovereign tribal tax credits, including some with ties to commissioner nominee Billy Long, Senate Finance Committee Democrats said in a letter to the agency.

Ron Wyden (D-Ore.), the panel’s ranking member, and committee member Sen. Catherine Cortez Masto (D-Nev.) told acting Commissioner Melanie Krause that promoters who engaged in the scheme “must face criminal consequences.”

They added they were concerned that Long, a former Republican House lawmaker from Missouri, would “undermine enforcement actions related to this fraudulent scheme” if confirmed to lead the IRS, and urged a ...