Obama’s IRS doled out more than $24 billion in potentially bogus refunds
Tuesday, July 25, 2017 at 05:46PM The IRS doled out more than $24 billion in potentially bogus refunds claimed under several controversial tax credits in 2016, according to a new audit that said $118 million was even paid to people who weren’t authorized to work in the U.S. in the first place.
Some $16.8 billion in payments were made on improper claims under the Earned Income Tax Credit, signifying a 24 percent error rate. Investigators also estimated $7.2 billion in improper payments for the Additional Child Tax Credit, representing 25 percent of the total, and $1.1 billion in improper payments, or 24 percent, for a higher education tax credit.
The totals and error rates for the earned income and child credits were comparable for 2015, while the education tax credit saw improvement.
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