Report: Earned Income Tax Credit overpayments may total $132.6B

04/25/2013 | TheFiscalTimes.com

The Internal Revenue Service has improperly paid as much as $132.6 billion during the past 10 years to Americans claiming refunds under the Earned Income Tax Credit, according to a report by Michael McKenney, deputy inspector general at the Treasury Department. The IRS has not adopted a procedure needed to correct the problem, the report says.

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