Pursuit's Take
This report presents the results of the Treasury Inspector General for Tax Administration’s (TIGTA) review to determine whether the Internal Revenue Service complied with the annual improper payment reporting requirements for Fiscal Year 2015.
In the report, the IRS estimates that 23.8 percent ($15.6 billion) of EITC payments were issued improperly in Fiscal
Year 2015. In addition, TIGTA estimates that the potential Additional Child Tax Credit improper payment rate for Fiscal Year 2015 is 24.2 percent, with potential improper payments totaling $5.7 billion, and estimates that the potential American Opportunity Tax Credit improper payment rate for Fiscal Year 2015 is 30.7 percent, with potential improper payments totaling $1.8 billion.
Media Coverage
Breitbart: IRS Paid Out More than $23 Billion in Bogus Tax Credits Last Year
Read the full report