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Thursday, December 5, 2013

TIGTA: IRS Issues $2.3 Billion/Year in Fraudulent Tax Refunds Based on Phony Employer Identification Numbers

TIGTA The Treasury Inspector General for Tax Administration today released Stolen and Falsely Obtained Employer Identification Num bers Are Used to Report False Income and Withholding (2013-40-120):

The IRS issues Employer Identification Numbers (EINs) to identify taxpayers’ business accounts. Individuals attempting to commit tax refund fraud commonly steal or falsely obtain an EIN to file tax returns reporting false income and withholding. TIGTA estimates that the IRS could issue almost $2.3 billion in potentially fraudulent tax refunds based on these EINs yearly (or about $11.4 billion over the next five years).

http://taxprof.typepad.com/taxprof_blog/2013/12/tigta-irs-1.html

Gov't Reports, IRS News, Tax | Permalink

Comments

Were is our intrepid Justice Department? Why aren't there heads rolling at the IRS??. Have they accepted this as SOP? So what, a few billion here, a few there, whats to get excited about!!. The IRS is a broken, mangled bureaucracy and they are just one if the many that needs trimming. The Dept of Education is a boon doggle that is costing us a fortune and our schools are turning out kids that cannot read. We need a real 'MAKEOVER' in Washington from the ground up.

Posted by: mark Carswell | Dec 6, 2013 8:18:45 AM