IRS Loses Billions to Fraud, Says Report

Identity thieves cost taxpayers billions of dollars, according to a Treasury Inspector General for Tax Administration (TIGTA) report released on Aug. 2.
IRS Loses Billions to Fraud, Says Report
Felipe Castro performs honest work as he holds a sign advertising tax preparation in Miami in this 2010 file photo. By filing fraudulent tax returns identity thieves have made off with billions in refunds from the IRS, according to a government report published Aug. 2. Joe Raedle/Getty Images
Mary Silver
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<a><img class="size-large wp-image-1783820" title="Employee Holds Tax Advertising Sign in Miami" src="https://www.theepochtimes.com/assets/uploads/2015/09/98452319.jpg" alt="Employee Holds Tax Advertising Sign in Miami" width="590" height="393"/></a>
Employee Holds Tax Advertising Sign in Miami

Identity thieves cost taxpayers billions of dollars, according to a Treasury Inspector General for Tax Administration (TIGTA) report released on Aug. 2. The report states that the IRS identified “1.5 million additional undetected tax returns with potentially fraudulent tax refunds totaling in excess of $5.2 billion.”

If the holes are not plugged, the IRS could issue $21 billion in potentially fraudulent tax refunds in the coming five years, according to the report. The agency said it agreed with TIGTA’s report and will follow its advice, and has already tightened its procedures for 2012, the report states.

Mary Silver
Mary Silver
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Mary Silver writes columns, grows herbs, hikes, and admires the sky. She likes critters, and thinks the best part of being a journalist is learning new stuff all the time. She has a Masters from Emory University, serves on the board of the Georgia chapter of the Society of Professional Journalists, and belongs to the Association of Health Care Journalists.
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