More than $106 billion dollars are lost to improper payments each year, including tax fraud.
The U.S. Treasury Inspector General for Tax Administration estimates that phony refunds could total $21 billion by 2017 if states and the IRS don’t take major precautions to understand and authenticate identities on the front-end of the tax return process.
In a 2012 report, the Treasury Inspector General for Tax Administration (TIGTA) found that billions of taxpayer dollars are being paid to fraudsters unnecessarily due to identity theft. The problem also is occurring at the state level, where criminals use fake identities to request tax refunds in the 43 states with an income tax.
A report from the Treasury inspector general for tax administration estimated that fraudulent tax refunds resulting from identity theft totaled about $3.6 billion for the 2011 tax filing season. Learn More >>
Identity theft tops the Internal Revenue Service's annual "Dirty Dozen" tax scams for 2014.
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