IRS May Have Sent Out $5B In Refund Checks To Identity Thieves

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irsThe Internal Revenue Service may have delivered more than $5 billion in refund checks to identity thieves who filed fraudulent tax returns for 2011, Treasury Department investigators said Thursday. They estimate another $21 billion could make its way to ID thieves’ pockets over the next five years.

The IRS is detecting far fewer fraudulent tax refund claims than actually occur, according to a government audit that warned the widespread problem could undermine public trust in the U.S. tax system. Although the IRS detected about 940,000 fraudulent returns for last year claiming $6.5 billion in refunds, there were potentially another 1.5 million undetected cases of thieves seeking refunds after assuming the identity of a dead person, child or someone else who normally wouldn’t file a tax return.

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{Matzav.com Newscenter}

1 COMMENT

  1. They are giving out tickets to people who forget to move their cars from one side to the other, but the IRS can’t catch identity thieves. this has to change around

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