IRS squanders nearly $1B in erroneous pandemic credits, won't try to recoup: Treasury watchdog
„This week's Golden Horseshoe is awarded to the IRS for issuing almost $1 billion in improper pandemic tax credits — and rebuffing an inspector general's recommendations to recover the erroneous payments.
The tax collectors issued potentially $898 million in improper Recovery Rebate Credits (RRCs) to ineligible individuals, including potential nonresident aliens, according to a final audit report by the Treasury Inspector General for Tax Administration (TIGTA).
The CARES Act authorized Economic Impact Payments in varying amounts depending on income and filing status. Any eligible individual who did not receive the stimulus payment could claim the missing amount on their tax return as an RRC on their taxes in 2020 and 2021.“
https://justthenews.com/accountability/watchdogs/sunirs-burns-nearly-1b-erroneous-pandemic-credits-wont-try-recoup-treasury
@auraxchan
„This week's Golden Horseshoe is awarded to the IRS for issuing almost $1 billion in improper pandemic tax credits — and rebuffing an inspector general's recommendations to recover the erroneous payments.
The tax collectors issued potentially $898 million in improper Recovery Rebate Credits (RRCs) to ineligible individuals, including potential nonresident aliens, according to a final audit report by the Treasury Inspector General for Tax Administration (TIGTA).
The CARES Act authorized Economic Impact Payments in varying amounts depending on income and filing status. Any eligible individual who did not receive the stimulus payment could claim the missing amount on their tax return as an RRC on their taxes in 2020 and 2021.“
https://justthenews.com/accountability/watchdogs/sunirs-burns-nearly-1b-erroneous-pandemic-credits-wont-try-recoup-treasury
@auraxchan
IRS squanders nearly $1B in erroneous pandemic credits, won't try to recoup: Treasury watchdog
„This week's Golden Horseshoe is awarded to the IRS for issuing almost $1 billion in improper pandemic tax credits — and rebuffing an inspector general's recommendations to recover the erroneous payments.
The tax collectors issued potentially $898 million in improper Recovery Rebate Credits (RRCs) to ineligible individuals, including potential nonresident aliens, according to a final audit report by the Treasury Inspector General for Tax Administration (TIGTA).
The CARES Act authorized Economic Impact Payments in varying amounts depending on income and filing status. Any eligible individual who did not receive the stimulus payment could claim the missing amount on their tax return as an RRC on their taxes in 2020 and 2021.“
https://justthenews.com/accountability/watchdogs/sunirs-burns-nearly-1b-erroneous-pandemic-credits-wont-try-recoup-treasury
@auraxchan
