Posted on 12/13/2014 2:39:00 PM PST by Libloather
The federal watchdog tasked with keeping tabs on the Internal Revenue Service says the agency needs to do a better job of administering tax credits for low-income people. The reason? Billions of dollars each year are ending up in the wrong hands.
A new report from the Treasury Inspector General for Tax Administration, reveals that nearly a quarter of the $63 billion worth of Earned Income Tax Credits distributed in 2012 were improper payments.
That’s about $14.5 billion in erroneous payments that were either given to the wrong people or distributed to the right people in the wrong amount.
TIGTA has routinely flagged the EITC as a high-risk area with lax oversight that threatens to put billions of tax dollars in the wrong hands. The report estimates that over the last decade, the IRS has doled out between $124 billion and $148 billion in improper payments.
(Excerpt) Read more at msn.com ...
Why do you never hear about them taking it back ?
They weren’t given to the wrong people!
It was no accident.
They were given to as many people as possible to buy votes.
Nothing more; nothing less.
When it goes uncorrected year after year and is a quarter of all payments, and goes largely to the dependent Democrat taker classes, I have a hard time believing this is all due to mistakes.
You beat me to it.
The EITC needs to be repealed. It’s a gimmick loaded with fraud
But who’s counting?
“Why do you never hear about them taking it back ?”
Because those people, if they can be found, don’t have anything.
Incidentally, I’m trying to buy a HUD house. We sent a contract to HUD’s very tight schedule 24 hour express by USPS. It did not arrive. HUD said, “you used the post office? We never use them. Totally unreliable.” (Just wow.)
So, these are the (government)people who will be approving our medical procedures?
Ah, the good ole E.I.T.C., just keeps growing and growing and growing.
First proposed by Nixon, signed into law by Ford and increased under every administration since, no exceptions.
Just a "Pee" in the pool to the big guys in DC.
so dock it from IRS employees wages ,their children’s and their grand children’s
But don’t you DARE not sign up for deathcare.
So we can subsidize health insurance for the same parasites.
Seems to me the right people are having their money taken for all the wrong reasons.
FTIRS!
Yeah....don’t the recipients have to apply for it?
So are they faking their jobs? [They didn’t really work?]
Was the work they did ineligible [halfway house or similar?]
Were they not citizens?
Start an automobile manufacturing business, hire union goons, run it in to the ground, go bankrupt, and get billions of taxpayer dollars. Why should low income (aka welfare recipients) be the only ones getting free tax dollars.
I guess inflation hits everything but for some reason, I remember this story, and whenever I see 'billion' I try to correct it.
The IRS is shipping hundreds of millions in tax refunds to Mexicans through the Earned Income Tax Credit scam claiming kids in Mexico They come in with as much as $30,000 cash in January to buy new pickup trucks.
Let’s be fair.
How can the IRS managers and cubicle monkeys be expected to vigorously persecute conservatives submitting applications for 501(c) tax exemption status and still have time to track a measly 14 billion dollars in bogus refunds and payments?
It can’t be done and they do have theior priorities.
/s
The IRS is shipping hundreds of millions in tax refunds to Mexicans through the Earned Income Tax Credit scam claiming kids in Mexico They come in with as much as $30,000 cash in January to buy new pickup trucks.
Please say that’s not true.
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