Monday, February 7, 2011
The government agency that’s showered prison inmates with millions in fraudulent tax refunds over the years has been cheated out of $33 million by thousands who “erroneously” claimed credits for alternative and plug-in electric vehicles.
In automatically granting the bogus tax credits the Internal Revenue Service (IRS) was simply following an aggressive Obama Administration plan to reward consumers that purchase the costly “advanced-technology” vehicles. The president is on a mission to get 1 million of the environmentally friendly cars on the road by 2015.
As a result of that push the IRS failed to appropriately scrutinize claims, even when they clearly didn’t meet the criteria. In the first six months of 2010 alone, 20% of such federal tax credits were “erroneous,” costing U.S. taxpayers more than $33 million. Details of this latest IRS gaffe are laid out in a report released this week by the Treasury Inspector General for Tax Administration.
It reveals that the IRS granted the lucrative tax credit—worth up to $7,500—to gas-guzzling sports utility vehicles and even a bicycle. Among those who cheated Uncle Sam are jail inmates and even IRS employees.
Posted by giveusliberty1776 at 12:34 PM