Tuesday, November 09, 2010

TIGTA: Scammers Defraud IRS Out of $1.9 Billion Via Multiple I.D. Numbers

The Treasury Inspector General for Tax Administration released a new report asserting that tax scammers have defrauded the federal government out of $1.9 billion by using multiple taxpayer identification numbers. You can find a summary of their report below (courtesy of The TaxProf), or click here to download a PDF of the full text.

Multiple Use of Taxpayer Identification Numbers Continues to Result in Significant Erroneous Exemptions and Credits (2010-40-117):

Individuals inappropriately received at least $380 million in personal tax exemptions and tax credits in 2007 as a result of the multiple use of Taxpayer Identification Numbers (TINs). ...These TINs were used on over 3.2 million tax returns. Over five years, erroneous exemptions and credits could exceed $1.9 billion.

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