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Wednesday, October 7, 2009

IRS Made Errors in Stimulus Payments to 400,000 Taxpayers

The Treasury Inspector General for Tax Administration yesterday released Evaluation of the Planning, Computation, and Issuance of the Recovery Rebate Credit (2009-40-129), reporting that:

  • The IRS issued more than $96 billion in advanced economic stimulus payments (up to $1,2000 for married couples filing jointly) to more than 119 million taxpayers in Calendar Year 2008 and approximately $8.5 billion in payments to almost 21 million taxpayers as of April 17, 2009.
  • 259,000 taxpayers did not receive $84.6 million in payments due to various IRS errors.
  • 141,000 taxpayers received $60.6 million in payments for which they were ineligible due to various IRS errors.

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Comments

IRS NEEDS TO GET THEIR ACCOUNTING PROCEDURES UNDER CONTROL BRFORE THEY START TAKING ON THE BURDEN OF KEEPING TRACK OF WHO HAS HEALTH INSURANCE.IT SHOULD'NT BE DO AS I AS I SAY EVEN IF WE DON'T.
WITH SO MUCH FRAUD IN PLACE ,IF IT WAS CLEANED UP ALONG WITH MEDICAID AND MEDICARE WE MIGHT NOT HAVE A MAJOR FINANCIAL CRISIS
AND NEED TO KEEP GIVING GOOD MONEY AFTER BAD.NEED TO STOP GIVING MONEY AWAY,MIGHT BE ABLE TO LOWER TAXES IF MONEY WAS NOT GIVEN TO PEOPLE WHO DON'T PAY TAXES.

Posted by: GEORGIANNA ADKINS | Oct 8, 2009 9:20:25 AM

I have clients who were messed over by this. I am very much against cheques being sent out by the IRS outside of refunds from a properly filed Form 1040.

Posted by: Liz Zitzow, EA | Oct 13, 2009 9:57:04 AM