IRS Made Up To $13.6 Billion in Improper EITC Payments in Fiscal 2012, TIGTA Says

The IRS still hands out billions in improper earned income tax credits, up to $ 13.6 billion in fiscal 2012, the Treasury Inspector General for Tax Administration said in a report released April 22.
Up to one-quarter of EITC payments made in 2012 were improper, TIGTA estimated in its report, dated February 25. The report was prepared in accordance with the Improper Payments Elimination and Recovery Act of 2010 (IPERA), which requires the assessment of improper payments.
IPERA requires the IRS to keep the improper payment rate below 10 percent. TIGTA said the IRS had similar levels of improper EITC payments in 2011.

View the entire article on LexisNexis® Tax Center


Discover the features and benefits of LexisNexis® Tax Center