Thursday, February 10, 2011

IRS Still paying Billions in bogus Earned Income Tax Credits-25% error rate

Good grief.....and the Republicans are having a hard time finding $100 billion in cuts???? WHY!! They should be cutting at least $500 billion out of a $1.5 trillion deficit.

WASHINGTON (AP) — More than $10 billion a year in tax credits for low-income families go to people who don't qualify for them, and the Internal Revenue Service isn't doing enough to stop them, a government investigator said Wednesday.

Using the tax agency's own numbers, the investigator said about quarter of all earned income tax credits go to families that don't meet the requirements.