A key component of President Obama’s proposed tax reform has led to massive fraud and collection losses for the federal government, according to a new IRS report.
The federal government paid out $14.4 billion in fraudulent reimbursements through Medicaid last year, according to the Government Accountability Office (GAO).
Sen. Orrin Hatch (R., Utah) highlighted a recent GAO report on the lack of oversight within Medicaid’s managed care organizations (MCOs) delivery system, which accounts for roughly $4 billion in waste each year.
U.S. federal authorities arrested 74 people in 25 towns across Puerto Rico early on Wednesday in an operation aimed at combating the abuse of Social Security and disability benefits.
Iran is engaged in an elaborate oil smuggling scheme that enables it to skirt international sanctions as it transmits valuable crude oil to China, according to an investigation by an Iran watchdog group released last week.
The federal investigation into the relationship between Democratic donor Dr. Salomon Melgen and Sen. Bob Menendez (D., N.J.) has exposed the rampant culture of Medicare and Medicaid fraud, which by some estimates cost taxpayers as much as $98 billion in fiscal year 2011.
A bipartisan group of congressmen in the House Oversight and Government Reform Committee is calling on President Barack Obama to appoint an inspector general to the State Department, which has lacked a permanent inspector general for five years.
A Korean American is being detained in South Korea for illegally transferring over $1 billion in Iranian money, according to Reuters. The money has been frozen in South Korea due to international sanctions.
Democrats attacked Republican efforts to trim the budget at a recent hearing despite bipartisan support for spending more money to fight tax fraud. The House Committee on Oversight and Government Reform’s Subcommittee on Government Organization held a hearing Thursday to discuss ways to fight tax fraud and identity theft.