Calculations of economic stimulus payments by the Internal Revenue Service may have been wrong in nearly 400,000 cases.

Treasury Inspector General for Tax Administration J. Russell George said in testimony before the House Ways and Means Oversight Subcommittee that as of June 13, the IRS had issued approximately 76.5 million stimulus payments totaling approximately $63.9 billion. His office has determined that the IRS correctly calculated the stimulus payment for 99.6 percent of the returns.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access