Monday, February 7, 2011

Obama Gives Away $33 Million in Bogus Electric Car Credits

February 7th, 2011 Judicial Watch

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.
Read more.

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