Thursday, October 30, 2008

Your Money: IRS Issued $1B in Fraudulent Refunds in 2007


WASHINGTON — The government sent out more than $1 billion in fraudulent refunds last year and offered this explanation Thursday for the bad checks in the mail: The Internal Revenue Service has too few resources to pursue every tax fraud case. IRS investigators never even looked at an estimated $742 million in fraudulent refunds, according to a report by the Treasury Department office that monitors the agency. When they did identify an additional $264 million in bad refunds, it was too late to stop them from being issued. More... Magazine Lane - Discount Cigarettes & Tobacco - Nutty News Marketplace - Big Dogs Sportswear