I’ll bet you never imagined the latest IRS scandal would involve them giving away too much money…This week, the Treasury Department’s inspector general’s office reported that over the past 10 years, the Internal Revenue Service has paid up to $132.6 billion in bogus earned income tax credit claims. That’s the credit that allows the working poor who don’t make enough to pay taxes to get the equivalent of a tax refund check anyway. It’s designed to encourage people to work instead of applying for welfare. But anytime the government offers free money, there will always be scammers showing up with tote bags. The inspector general has been warning about this problem for two years, but the IRS claims it’s just too big and complicated a job, having to verify that all those applicants for the earned income tax credit really do qualify. Besides, they’re about to be too busy, verifying that the tens of millions of applicants for free money from the Obamcare insurance subsidies really do qualify.
Posted on: Sat, 26 Oct 2013 20:30:00 +0000