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14 Apr 2009
The Internal Revenue Service last year paid $16.3m in false tax refunds and economic stimulus payments totaling $1.2m.
The $17.5m (£11.8m) has been highlighted in a report by the Treasury department’s inspector general for tax administration (TIGTA), according to webcpa.com
The report assessed the effectiveness of the IRS's prevention of fraudulent refunds and economic stimulus payments.
J Russell George, inspector general of TIGTA, said: 'Although the amount of erroneously identified stimulus payments is small in relation to the total amount issued, TIGTA remains concerned that the existing controls pose a risk that false refunds and stimulus payments will be erroneously issued in the future.'
Further Reading:
Treasury department’s inspector general for tax administration report
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