IRS Nominee William Long Grilled on Conflict of Interest Over Tribal Tax Credits

Allegations of Tribal Tax Credit Scheme

• 💡 Public reports revealed a scheme involving companies selling fake tribal tax credits to investors.
• ⚠️ The IRS confirmed these credits do not exist and that taxpayers claiming them face penalties, while promoters may face civil or criminal penalties.

Nominee's Financial Disclosure and Referral Fees

• 💰 William Long disclosed receiving $65,000 from Capital Edge Strategies for referrals related to tribal tax credits sold by White River.
• 🎯 Long stated all his work with Capital Edge was related to these tribal tax credits.
• ❓ He admitted to referring individuals to Capital Edge Strategies for these credits.

Conflict of Interest Concerns

• 🔍 Senator Cortez Masto questioned how Long could claim no conflict of interest given his involvement with a known scam.
• 🏛️ Long cited the Office of Government Ethics (OGE) and career professionals as controlling his disclosures and stated he had no perception that the credits did not exist.
• ⚠️ He acknowledged that the IRS stated the credits do not exist, but claimed he was not aware of the specifics when he asked.

Investigation and Affiliation Questions

• ✉️ Senator Cortez Masto informed Long that she and Senator Widen had sent a letter to the acting IRS commissioner requesting an investigation into these tribal tax credits.
• 🚫 Long stated he did not receive compensation from White River and had no knowledge of anyone at the company, asserting all his work was for Capital Edge.
• ❓ Despite Long's claims, his financial disclosure statement indicated the source of income was White River Energy Corporation, which he stated was what OGE wanted.

Handling Potential Investigations as IRS Commissioner

• ⚖️ When asked how he would handle a potential investigation involving a company he was affiliated with, Long stated he would consult legal staff and explain the situation.
• 💰 A further concern raised was that a company allegedly involved in the fraud contributed to a Senate-created PAC after Long's nomination.