- Top lawmakers in the House and Senate have begun their own probes into a recent wave of fraudulent tax filings made through Intuit's (NASDAQ:INTU) TurboTax, highlighting a growing problem in the "e-filing" industry.
- IRS data shows that the issue has grown rapidly, to a record of almost 2M suspected incidents by 2013 from about 440K in 2010.
- The federal government estimates it blocked about $24B in attempts, but still lost about $5.2B in the 2013 filing season, due to fraudulent e-filings.
- Previously: FBI probes fake TurboTax filings (Feb. 11 2015)