IRS Paid Out $132 Billion In Bogus Tax Credits Over Last Decade

The IRS paid as much as $13.6 billion in bogus claims for the Earned Income Tax Credit last year, according to a report the agency’s internal auditor released Tuesday morning.
The Treasury Inspector General for Tax Administration said it warned the IRS in 2001 that it was making the erroneous payments, but two years later the agency hasn’t fixed the problem.

Over the last decade, the IRS could have paid out as much as $132.6 billion in improper payments.

More