(NEWSER) – The Earned Income Tax Credit is that rare IRS feature popular with politicians, economists, and especially with the low-income families it helps, notes theHill. No wonder: Turns out, the IRS is overly generous with the credit. An audit shows that it distributed between $11.6 billion and $13.6 billion in improper EITC refunds last year. That accounts for up to 25% of all such refunds.
Posted April 24th, 2013 @ 1:43pm by John Johnson, Newser Staff