IRS mistakenly distributed at least $110.8B in earned income tax credits

10/22/2013 | Hill, The

The Internal Revenue Service erroneously distributed between $110.8 billion to $132.6 billion in earned income tax credit payments between 2003 and 2012, according to Treasury's Inspector General for Tax Administration. An executive order in 2009 called for the IRS to set targets to roll back improper payments, but it hasn't done so yet. The IRS is meeting with the Office of Management and Budget to address this issue.

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Hill, The

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