iBankCoin
Joined Nov 11, 2007
31,929 Blog Posts

Simply Ridiculous

Plug the holes already….

“Prisoners, dead people and children qualified for a 2009 tax break to spur car buying, according to a U.S. report Wednesday that criticized the Internal Revenue Service for misapplying the refund in some cases.

The IRS should have done more to verify that people who claimed the qualified motor vehicle (QMV) deduction were entitled to it, said the report from the Treasury Inspector General for Tax Administration, a government-run IRS watchdog.

The measure, which expired on Dec. 31, 2009, was part of the Obama administration’s economic stimulus package.

Taxpayers who claimed the deduction were not required to provide independent proof that they bought a vehicle, or if they did, how much they paid in deductible sales and excise taxes, said the inspector general…”

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