BUSINESS

IRS paid $11 billion in faulty refunds in 2012

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The Internal Revenue Service issued billions of dollars in tax refunds that it shouldn't have in 2012, the Washington Post reports.

According to the Treasury Department's inspector general, the IRS doled out $11 billion in improper payments through the Earned Income Tax Credit last year. The Post says that 21 percent of payments through that specific tax credit were not supposed to happen.

"The reduction of improper payments is a top priority for the IRS, and we are making progress in this area," the agency told the Post in a statement.

READ MORE at washingtonpost.com.

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