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The IRS has had a string of recent failures, but paying out bogus refunds is particularly embarrassing. The IRS knows it is happening, knows which tax credits and refunds are targeted, and still can’t seem to stop it. President Obama even called for a fix back in 2009 in an executive order. The IRS is looking into it. And a new report says there’s no solution in sight. The IRS paid out $132 billion in bogus tax credits over the last decade. The Treasury Inspector General for Tax Administration reports that the IRS is not in compliance with Executive Order 13520 to reduce improper payments. The IRS has had several warnings.…Tax Refund Received (Photo credit: swanksalot)
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IRS Pays Billions In Bogus Refunds—But Legit Refunds Still Get Audited – Forbes
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