Question of the Day

The earned income tax credit is one of the largest cash assistance programs for low-income families. What portion of this program's payouts are made in error?

Correct Answer

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During the federal government's 2012 fiscal year, 21% to 25% of all earned income tax credit payouts were made in error. This amounts to 11.6 to 13.6 billion dollars.

DocumentationIRS Improper Payments Refundable Tax Credits