Former Congressman Billy Long, Trump Nominee for IRS Commissioner, Partnered with Promoters of Fraudulent “Tribal Tax Credits,” Other Tax Scams
Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) and Senate Finance Committee Ranking Member Ron Wyden (D-Ore.) called for a criminal investigation into promoters involved in a tax evasion scheme selling investors fraudulent “tribal tax credits,” including firms that had close financial ties with former Congressman Billy Long, the Trump nominee for IRS Commissioner.
“As you are aware, the IRS recently confirmed to Senate Finance Committee investigators that these ‘tribal tax credits’ do not exist and that promoters of these credits could face civil and criminal penalties,” the Senators wrote. “It appears that White River Energy Corporation, like other promoters involved in this scheme, used the identity and image of Native American tribes without their knowledge to dupe investors into spending millions to purchase fake tax credits. Given IRS Commissioner nominee Billy Long’s direct financial ties to White River and other entities implicated in this scheme, we are concerned that if confirmed Long could undermine enforcement actions related to this fraudulent scheme.”
In response to an inquiry by Democratic Finance Committee staff seeking to better understand the legal mechanisms under which White River and other promoters were able to buy and sell these tribal tax credits, the IRS said the following:
“We can confirm that these tax credits do not exist. Taxpayers who claim credits that don’t exist are subject to penalties and possible examination. Furthermore, promoters of these credits may be subject to civil or criminal penalties. The IRS reminds all taxpayers to be aware of tax scams and encourages taxpayers consult with a reputable tax advisor.”
“Promoters engaged in fraudulent ‘tribal tax credits’ schemes must face criminal consequences,” the Senators continue. “The IRS must promptly investigate this matter to send the message that no one is above the law, regardless of whether they have powerful friends in high places.”
Read the full letter here.
Senator Cortez Masto has pushed multiple Departments under the Trump Administration for detailed, public information regarding the impacts of President Trump and Elon Musk’s chaotic actions on Nevada – including at the Department of the Interior, the U.S. Forest Service, the National Nuclear Security Administration, the Department of Veterans Affairs, Department of Agriculture, and General Services Administration. The Senator has also been a vocal opponent of many of Trump’s dangerous nominations to lead federal agencies.
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