EITC Errors Cost IRS Billions Per Year

By  |  October 22, 2013
 | 

Internal payments controls for the Earned Income Tax Credit (EITC) system have led to billions of dollars in annual losses at the Internal Revenue Service (IRS), The Atlanta Journal-Constitution reports.

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    During the 2012 fiscal year, the IRS released $62 billion in EITC payments. The agency indicated in a recent IG report that that approximately 21 to 25 percent of these payments were erroneous, equal to about $12 billion.

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    To learn more about the IRS losses, read the full report here. 

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