Forum Post: Will IRS Audit Banks for REMIC fraud?

These banks need to be audited for REMIC fraud. These banks formed a REMIC, a tax-exempt special purpose vehicle used for the pooling of mortgage loans and issuance of mortgage-backed securities and are the typical vehicle of choice for the securitization of residential mortgages in the US. If the IRS audits these REMIC's, there would be so many flaws and back taxes that the banks would ultimately be liable for it. I got audited for a simple $4000 refund yet the IRS will not audit for these REMICS and get millions of dollars. I don't get it????