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Current Events => Economics => Topic started by: Chris_ on August 03, 2012, 09:53:22 AM

Title: Treasury says IRS missed more than $5 billion in ID-theft related tax fraud
Post by: Chris_ on August 03, 2012, 09:53:22 AM

Quote

Treasury audit says IRS missed more than $5 billion in ID theft-related tax fraud last year

In one example, investigators found a single address in Lansing, Mich., that was used to file 2,137 separate tax returns. The IRS issued more than $3.3 million in refunds to that address. Three addresses in Florida, the epicenter of the identity theft crisis, filed more than 500 returns totaling more than $1 million in refunds for each address.

In another troubling scenario, hundreds of refunds were deposited into the same bank account — a red flag for investigators searching for ID thieves who may be filing for refunds for multiple people. In one instance, the IRS deposited 590 refunds totaling more than $900,000 into one account.

Washington Post (http://www.washingtonpost.com/politics/courts_law/treasury-audit-says-irs-missed-more-than-5-billion-in-id-theft-related-tax-fraud-last-year/2012/08/02/gJQANLT3RX_story.html)

Title: Re: Treasury says IRS missed more than $5 billion in ID-theft related tax fraud
Post by: RobJohnson on August 15, 2012, 09:02:06 PM

Holy  :censored:

Title: Re: Treasury says IRS missed more than $5 billion in ID-theft related tax fraud
Post by: CG6468 on August 15, 2012, 09:08:10 PM

And the IRS doesn't give a damn.