Posted on 05/20/2016 2:31:59 PM PDT by T Ruth
The Inspector General for the IRS said Thursday that the tax collection agency continues to be at risk of paying out billions of dollars in fraudulent Earned Income Tax Credit payments each year, and that there's nothing the IRS can do about it.
The Treasury Inspector General for Tax Administration released a report that said almost 25 percent of EITC payments issued last year should not have been issued. That amounts to $15.6 billion in payments under a program that's meant to boost low and moderate-income people and families.
(Excerpt) Read more at foxnews.com ...
The IRS is the biggest tax scam.
I bet they wouldn’t have been powerless to collect the additional money we owed them on April 15. They would have relentlessly pursued it had I not sent it in.
If true, no a lot more will be doing the same now that it’s known they can’t stop it.
The point of telling everyone the IRS is powerless to stop the EITC fraud, is to encourage more EITC fraud.
Apparently, the IRS thinks 15 billion is too low.
Powerless...........I think not.........sounds more like they are just saying that to get a bigger budget!
A glaring example of the type of thing that can be remedied by switching from income tax to a consumption tax model, ala the Fair Tax plan.
I think the answer is:
They do not have the time and the manpower.
They must use all resources to harass and tie in knots conservative tax exempt groups.
Nothing they can do about it?
More like they have no desire to do anything about it.
“...and that there’s nothing the IRS can do about it. ...”
Betcha that if they got rid of that sorry ba$tard director and made the IRS employee salaries and bonuses dependent upon eliminating the fraud that it would disappear quickly!
Redistribution of wealth.
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Earned Income Tax Credit (EITC)
Started by republican Richard Nixon, signed into law by republican Gerald Ford and increased under every administration since, no exceptions.
25 percent of EITC payments issued last year should not have been issued.
Nooo.
100% percent of EITC payments issued last year should not have been issued.
Not earning income is just wrong and ruins people.
EXACTLY! Your answer is more accurate than mine. But as far as I can tell these EITC are not going to American blacks. They are not interested in this scam. These EITC reparations are going to illegal and legal immigrants mostly Hispanic. The kind that steal and rent out SS numbers for work purposes. Going to people/Hispanics who were never slaves and who came here (immigrated) voluntarily.
There was a story a couple of years ago about a single address where over $3M in EITC refunds had been mailed Don’t recall where. Multiple returns claiming max dependents yet they can find a way to audit my investment accounting every single year.
We should be surrounding their buildings and daring them to come out.
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