Thursday, December 5, 2013
TIGTA: IRS Issues $2.3 Billion/Year in Fraudulent Tax Refunds Based on Phony Employer Identification Numbers
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).
- Accounting Today, IRS Contends with Billions Lost to Stolen EINs
- Daily Caller, IRS Watchdog: BILLIONS Paid Out in Potentially Fraudulent Refunds Due to False or Stolen EINs
- Washington Free Beacon, Audit: IRS Could Issue Up to $2.3 Billion in Fraudulent Tax Refunds Each Year
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 5:18:45 AM