IRS pays out $15.6 billion in improper Earned Income Tax Credits

IRS pays out $15.6 billion in improper Earned Income Tax Credits

[Ed. – The EITC is a welfare program.  EITCs are available to illegals who file federal income tax returns.  And Obama, as ever, is overexcelleing in his misuse of public funds:  the $15.6 billion in 2015 beats the average of $13.2 billion a year from 2003 to 2012.  Yee-ha.]

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. …

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.

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