15 Billion dollars is a HUGE sum of money, and that’s exactly what the IRS wasted last year in erroneous tax payments:
FREE BEACON – The IRS erroneously paid out an estimated $15.6 billion in Earned Income Tax Credit payments in fiscal year 2015, according to a Treasury Inspector General for Tax Administration report.
A low-income worker can receive refundable tax credits from the Earned Income Tax Credit program when they meet certain requirements for income and age.
The $15.6 billion in improper payments identified by the inspector general represented 23.8 percent of total earned income credits paid out in that fiscal year. According to the Office of Management and Budget, an improper payment is a transfer that should not have been made, was made in the incorrect amount, or was made to an ineligible recipient.
The Office of Management and Budget has classified the Earned Income Tax Credit program a “high-risk” program, making it the only IRS program with this classification.
“The [Earned Income Tax Credit] remains the only revenue program fund to be considered a high risk for improper payments despite numerous indicators that other refundable tax credits (e.g. the Additional Child Tax Credit) also potentially result in significant improper payments,” the report states.
I have a suspicion that a lot of those ‘erroneous’ payments went to illegals. I could be wrong, but with the Obama administration has always treated illegals, it wouldn’t surprise me if we find out they’ve been getting billions in phony IRS tax payments.