FCW: IRS gets high marks for fraud and identity theft initiatives

“Current and former IRS officials sometimes grumble about the work of the Treasury Inspector General for Tax Administration, arguing that their reports and findings are overly harsh and often fail to take into account the tax agency’s historic funding and personnel limitations.”

“However, an audit released this week gives the agency high marks for its efforts cracking down on tax refund fraud and identity theft, utilizing a layered approach that combines new software, public-private partnerships and innovative pilot programs to save billions of dollars from ending up in the hands of criminals and fraudsters.”

“The topline figures over the past decade illustrate how much progress the agency has made. In 2012, TIGTA estimated the IRS lost approximately $5.2 billion, but that number has shrunk substantially over the past decade. The agency’s latest available numbers from 2019 peg losses between $90 million and $380 million, and its programs have identified 438,580 fraudulent tax returns, another 442,991 identity-theft related tax returns and prevented a collective…” Read the full article here.

Source: IRS gets high marks for fraud and identity theft initiatives – By Derek B. Johnson, July 17, 2020. FCW.

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