Saturday, May 18, 2019

IRS could be wasting even more taxpayer dollars than it reports

By Fox Business, May 16, 2019

While it is known the IRS Opens a New Window.  is having a hard time preventing overpayments to individuals claiming a tax Opens a New Window.  credit typically awarded to low-income families, they could be underreporting improper payments being made to taxpayers claiming other credits, too.

A report from the Treasury Inspector General for Tax Administration released this week found that the agency is incorrectly rating the improper payment risk – or the likelihood that payments made were incorrect or should not have been made – associated with the Additional Child Tax Credit (ACTC), the American Opportunity Tax Credit (AOTC) and the Premium Tax Credit (PTC). 
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