The Internal Revenue Service does not always identify potentially mistaken claims for General Business Credits when processing tax returns, according to a new government report that found unsupported claims for the credits totaling $1.3 billion for 2011.
The report, released Wednesday by the Treasury Inspector General for Tax Administration, reviewed tax returns for tax year 2011 with claims for General Business Credits and found that the IRS has not established effective processes to identify individuals who claimed potentially erroneous General Business Credits at the time the IRS processed their returns.
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