H&R Block submits comments, consumer fraud survey results to Congress for IRS hearing
Today, the U.S. House Ways & Means Subcommittee on Oversight held a hearing on IRS oversight and the 2014 individual income tax filing season just completed. The IRS has indicated that in fiscal year 2013, it collected over $2.8 trillion in taxes, processed 145.9 million individual tax returns, and issued $364.3 billion in refunds.
The hearing served as an opportunity for members of Congress to discuss some of the IRS’s ongoing programs now that the 2014 tax season has concluded.
In conjunction with the review of the current tax return filing season, the Subcommittee was expected to review IRS operations in general, including efforts to prevent waste, fraud, and abuse, including identity theft.
As the world’s largest consumer tax services preparer, we have a unique perspective into tax filing trends, including increases in tax fraud and improper payments. In fact, to gain further insight into the growing problem of waste, fraud, and abuse in the tax system, the company commissioned ORC International to conduct a study on consumer awareness and attitudes on the issues of tax fraud and prevention. H&R Block submitted the following report to the subcommittee, which summarizes the results of this survey: Consumer Tax Fraud Sources and Solutions Survey Findings.
Improper Earned Income Tax Credit payments have cost the government approximately $140 billion over the last decade and we are committed to assisting Commissioner Koskinen, the IRS, and other policymakers with efforts to address this costly and unnecessary waste.
Read Jeff Jones’ statement from the 2018 IRS Security Summit with the new IRS commissioner, tax industry CEOs, and state tax commissioners.
Check out the latest updates now available with H&R Block’s Tax Identity Shield. This is just another way the tax experts are trying to keep clients safe.