Friday, October 9, 2009

IRS Misses 13% ($15m) of Fraudulent Refunds

From TaxProf Blog, another reason to be unconcerned when government takes over healthcare:
IRS’s ability to detect identity theft-related refund and employment fraud is limited, but by the end of 2008, IRS had cataloged over 50,000 incidents. According to IRS, about 90% of fraudulently claimed refunds were stopped in 2008 with about $15 million issued before IRS became aware of the fraud. IRS does not know the amount of refund or employment fraud that goes undetected.

(Emphasis mine.)
Not that the IRS could possibly know how much fraud goes undetected but you can be sure that the number is, quite likely, astronomical.

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