IRS watchdog tells of billions of dollars in losses
AccountingWEB May 31, 2011 — 175 views
Improper payments by the IRS are costing taxpayers billions each year.
So said J. Russell George, the Treasury Inspector General for Tax Administration in congressional testimony Wednesday. At issue are several kinds of refundable tax credits, but most of the fraud stems from the Earned Income Tax Credit, or EITC.
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