Tax Refund Splitting Provides New Avenue for Fraud Detection
TIGTA found that more than 65,300 bank accounts had multiple direct deposits, accounting for more than 949,000 refunds for approximately $1.6 billion, some of which belong to IRS employees. What does this mean? Essentially, this means that 65,300 preparers may be shifting money from his or her client’s refund to the preparer’s own bank account. […]