Punching Stupid and Evil in the Face Since 1986!

"We are on strike, we the men of the mind. We are on strike against self-immolation. We are on strike against the creed of unearned rewards and unrewarded duties."-John Galt

Monday, February 7, 2011

IRS pays $33 million in bogus electric car credits

In a report released this week by the Treasury Inspector General for Tax Administration we find that the IRS has issued $33 million dollars in bogus tax credits. Because of inadequate processes within the IRS, folks were able to make claims on vehicles that did not meet the criteria, claimed multiple credits for the same vehicle and claimed an excessive number of vehicles for "personal" use.
......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. Some people got multiple tax cuts for the same vehicle and 29 prisoners received nearly $50,000 in alternative vehicle credits even though they were behind bars.
Bear in mind, this is the same organization that has been caught repeatedly issuing refunds to prison inmates.

The American people can't wait until this organization is in charge of administering Obamacare.