Government Accountability Office: Identity Theft
Tuesday, September 1st, 2015 @ 8:00AM
Additional Actions Could Help IRS Combat the Large, Evolving Threat of Refund Fraud
Committee For Efficient Government reports that the latest figures on estimates of the amount of money the IRS paid in fraudulent identity theft refunds is contained in a Government Accountability Office (GAO) report released on September 22, 2014.
The GAO found that based on preliminary analysis, the Internal Revenue Service (IRS) estimates it paid $5.2 billion in fraudulent identity theft (IDT) refunds in filing season 2013, while preventing $24.2 billion (based on what it could detect). The full extent is unknown because of the challenges inherent in detecting IDT refund fraud. Based upon this recent report Committee For Efficient Government believes that the Identity Theft-Based Tax Refund Fraud problem is getting worse.