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IRS gave out $12B in improper refunds last year

 
IRS gave out $12B in improper refunds last year
Posted Wednesday, April 24th 2013 @ 11am  by John Johnson, Newser Staff

(NEWSER– The Earned Income Tax Credit is that rare IRS feature popular with politicians, economists, and especially with the low-income families it helps, notes theHill. No wonder: Turns out, the IRS is overly generous with the credit. An audit shows that it distributed between $11.6 billion and $13.6 billion in improper EITC refunds last year. That accounts for up to 25% of all such refunds.

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