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Thursday, October 8, 2009

IRS Made Errors in Stimulus Payments to 400,000 Taxpayers

The TaxProf Blog examines how the IRS has handled its duty to hand out money under the stimulus. Not well.
* The IRS issued more than $96 billion in advanced economic stimulus payments (up to $1,2000 for married couples filing jointly) to more than 119 million taxpayers in Calendar Year 2008 and approximately $8.5 billion in payments to almost 21 million taxpayers as of April 17, 2009.
* 259,000 taxpayers did not receive $84.6 million in payments due to various IRS errors.
* 141,000 taxpayers received $60.6 million in payments for which they were ineligible due to various IRS errors.

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