H&R Block Testifies Before Congress on New Tax Preparer Regulations
Take the fraud amount lets say 2 billion..thats 400,000 fraud cases. Now subtract the labor costs if you had to administer it thru a gov agency...labor costs at the gov level with health care benefits,pension benefits and you get 25 an hour times 35 hrs=875 week costs plus overhead..you see where i'm going? it would cost billions.. The present way is to get preparers to do it for free and with penalties if they don't do it well. HRB heck most of us would suffer financially if the eic was not in the tax code.
I believe a self employed eic client should not get refundable eic..then the fraud goes away btw those eic sch c fraudsters have social security credits as well that will pay them more at retirement as well.
But i temper my anger at the poor by remembering the billions taken by ceo's of fraudulent wall street,oil companies and Ins companies.
Basically corruption up and down the system...i won't blast the poor only.