That’s Billions with a B …
The IRS has paid out billions of dollars in fraudulent returns from tax scams. What, this from the folks that are so good at harassing individuals struggling to make ends meet these days? It would seem that they are good at persecuting the folks who have difficulty trying to figure out the complex tax code, but not with criminals. The scams were so bad and obvious that one address in Lansing, Michigan was the source of an astonishing 2,137 tax returns, and to which the IRS directed more than $3.3 million in potentially fraudulent refunds. HOW IS THAT POSSIBLE? Do they not have a simple database that would red flag such things? After all these years, how could the IRS be that clueless in preventing fraud and wasting hard earned American tax dollars?
The IRS is paying out billions of dollars in fraudulent tax refunds to identity thieves; a problem that the tax service’s inspector general told CNBC is a “growing problem” involving numbers that are increasing “exponentially.”
In a new report to be issued Thursday, the inspector general for the IRS says that tax thieves are stealing the identities of taxpayers and then filing bogus returns on their behalf and collecting fraudulent refunds as a result.
The inspector general estimates that the IRS could issue as much as $21 billion in fraudulent tax refunds over the next five years.
Let’s face it, the IRS is obviously not doing enough to prevent fraud at its inception. Once the money goes out the door in a scheme like this, the monies are then funneled offshore and gone forever. I guess the IRS agents are too busy gearing up to enforce Obamacare.