Washington – A Treasury investigator says the Internal Revenue Service has paid out more than $110 billion in tax credits over the past decade to people who didn’t qualify for them.
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The Earned Income Tax Credits were intended for poor working families. In a report released Tuesday, the IRS inspector general said more than one-fifth of all credits paid under the program went to people who didn’t qualify.
The inspector general said the IRS is not doing enough to reduce the improper payments. The report said IRS efforts are hampered by unscrupulous tax preparers as well as honest families that have trouble calculating the complicated credit.
The EITC is one of the nation’s largest anti-poverty programs. In 2011, more than 27 million families received nearly $62 billion in credits.
That works out to roughly about 2,000 (2k) per each of the 27 million famalies!
consider that bail out money to main street! vs the 100’s of billions (billions) to wall street. thanks uncle sam.
Add to that the $4,000,000,000 IRS improperly paid in refundable additional child tax credits to Mexican illegal aliens who claimed 16 nieces and nephews as dependents (just google the story). That prompted GAO to issue a scathing report on IRS. It has also resulted in many frum American families abroad, especially those in kollel, to be audited by IRS where IRS is asking for refunds to be returned to it with penalty and interest unless the taxpayer can prove the 1040 accuracy.
Two words: CASH BUSINESS
That’s the only way to prevent the govt/welfare bums from stealing your money.
Don’t call it a refund or a rebate program if these people did not pay into the system that year.
And these people will be in charge of our healthcare????
and these fools are in charge of your health care now, helloooooooo death panels
typical liberal socialist marxist run government
thank you barack
#6 well said
Articles figures are for an entire decade. For just 2012-TIGTA audit finds in FY 2012 IRS made improper Earned Income Tax Credit (EITC) payments somewhere in the range of $11.6 billion to $13.6 billion; and IRS responded to TIGTA’s EITC audit.