Awesome…
Via Washington Examiner:
The IRS paid $5.2 billion in “fraudulent identity theft refunds” last year, a Government Accountability Office analysis has revealed.
In a report issued Monday, the GAO said the IRS stopped $24.2 billion in theft, but the extent of the fraud is “unknown.”
The 50-page report came with a set of recommendations for reducing fraud, including allowing the IRS to send more refunds electronically and consider shifting W-2 filing deadlines.
The report was compiled by the GAO at the request of the Senate Finance Committee and House Ways and Means Committee.
Senate lawmakers Monday said the report signals that the agency is in need of serious reform in order to protect taxpayers from security breaches and rampant fraud.