IRS Sent Out Over $1 Billion In Child Tax Credit Payments To The Wrong People

The Internal Revenue Service (IRS) sent over $1.1 billion in child tax credit payments to incorrect recipients during the COVID-19 pandemic, according to an audit by the Department of the Treasury’s Inspector General (IG) for Tax Administration on Tuesday. The IRS sent the payments to 1.5 million people between July and November of 2021 during the pandemic, according to the audit’s report. Additionally, the IG noted that 4.1 million taxpayers did not receive payments they should have, amounting to $3.7 billion withheld.-- More...