Welcome, Guest! - or
Easy to remember!  »  VinNews.com

Washington - IRS Paid More Than $110 Billion In Improper Tax Credits

Published on: October 22, 2013 11:42 AM
By: AP
Change text size Text Size  
Bookmark and Share

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.

Advertisement:

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.


More of today's headlines

Carle Place, NY - Authorities on Long Island say all schools in Nassau County will receive panic alarms. The county-funded program will provide each school five... Toronto, Canada - Despite the fact that a similar series previously adorned Vancouver subway trains and buses over the summer, the Toronto Transit Commission (TTC) is...

 

You can now automatically hide comments - New!

Don't worry, you can always display comments when you need to.

Total15

Read Comments (15)  —  Post Yours »

1

 Oct 22, 2013 at 11:58 AM rebeli Says:

That works out to roughly about 2,000 (2k) per each of the 27 million famalies!

2

 Oct 22, 2013 at 12:18 PM Anonymous Says:

consider that bail out money to main street! vs the 100's of billions (billions) to wall street. thanks uncle sam.

3

 Oct 22, 2013 at 12:37 PM MarkTwain2 Says:

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.

4

 Oct 22, 2013 at 12:49 PM Reb Yid Says:

Two words: CASH BUSINESS
That's the only way to prevent the govt/welfare bums from stealing your money.

5

 Oct 22, 2013 at 01:07 PM Anonymous Says:

Don't call it a refund or a rebate program if these people did not pay into the system that year.

6

 Oct 22, 2013 at 01:07 PM Anonymous Says:

And these people will be in charge of our healthcare????

7

 Oct 22, 2013 at 02:11 PM Anonymous Says:

and these fools are in charge of your health care now, helloooooooo death panels

8

 Oct 22, 2013 at 02:12 PM Anonymous Says:

typical liberal socialist marxist run government
thank you barack

9

 Oct 22, 2013 at 02:16 PM Anonymous Says:

Reply to #4  
Reb Yid Says:

Two words: CASH BUSINESS
That's the only way to prevent the govt/welfare bums from stealing your money.

You've got it backwards. It's precisely the people who are making their money under the table in cash and crying poverty, who are bilking the system. I work in an accounting office and I can't tell you how many tax returns I processed last year from people who claim to be making $30,000 with 5 kids. Unfortunately based on my experience, this appears to be a pervasive problem in the frum community. Until we have an education system that teaches ethics and a rabbinical authority that publicly condemns theft -- even from the government (aka taxpayers), this problem will persist.

The solution is to eliminate all "credits" which reduce tax liability to below zero. There should be no money back, other than for withholding.

10

 Oct 22, 2013 at 02:39 PM Benny Says:

#6 well said

11

 Oct 22, 2013 at 03:36 PM moshe Says:

Reply to #2  
Anonymous Says:

consider that bail out money to main street! vs the 100's of billions (billions) to wall street. thanks uncle sam.

Except that eh wall street money was paid back or is being paid back.

12

 Oct 22, 2013 at 03:44 PM clear-thinker Says:

Reply to #4  
Reb Yid Says:

Two words: CASH BUSINESS
That's the only way to prevent the govt/welfare bums from stealing your money.

Four words...kosher food in prison. Perhaps you should put these two concepts together and rethink.

13

 Oct 22, 2013 at 08:00 PM charliehall Says:

Reply to #8  
Anonymous Says:

typical liberal socialist marxist run government
thank you barack

Typical low-information Obamahater. The Earned Income Tax Credit was enacted under Gerald Ford in 1975. Milton Friedman and Richard Nixon supported similar programs.

14

 Oct 22, 2013 at 08:01 PM Charles Hall Says:

Reply to #4  
Reb Yid Says:

Two words: CASH BUSINESS
That's the only way to prevent the govt/welfare bums from stealing your money.

Too bad that is asur. Taxes aren't theft. So say Chazal and every Rishon.

15

 Oct 24, 2013 at 09:43 AM MarkTwain2 Says:

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.

16

Sign-in to post a comment

Scroll Up
Advertisements:

Sell your scrap gold and broken jewelry and earn hard cash sell gold today!