The IRS and Another Multi-Billion-Dollar Mistake – Investment Watch

by Martin Armstrong

The Internal Revenue Service (IRS) continually makes multibillion dollar mistakes. The agency “accidentally” sent $1.1 billion in advanced child tax credits to the wrong families. If a private citizen made a mistake on their personal taxes, they would feel the repercussions, especially with Biden’s newly appointed 87,000 armed agents.

Now 1.5 million families who received the money “accidentally” will be waiting to return it. As if that wasn’t bad enough, the IRS failed to deliver $3.7 billion in tax credits to 4.1 million households! The tax credit was intended as part of the reckless American Rescue Plan to pay families making less than $150,000 a year and single parents making less than $112,500. This was the largest child tax credit in US history: basically, people got “free” money at taxpayer expense simply for having children.

This is the same agency that sent countless stimulus checks to people who didn’t qualify. Even billionaire George Soros got a stimulus check. They even sent checks for a total of more 267 billion dollars to dead people The IRS also “accidentally” leaked 120,000 personal files online earlier this month. The agency continually makes major mistakes. Knowing that there will be 87,000 additional officers, armed, working for this failed agency is not reassuring.

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