Wednesday, October 7, 2009
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.