There are a lot of factors that websites and analysts have cited for the ever increasing number of last minute tax filings, and those numbers are pretty shocking.
46% — That’s the drop in number of people who reported fraud during the 2016 tax season.
In December of 2015 the Protecting Americans from Tax Hikes Act (PATH Act) was signed into law. The PATH Act made a handful of tax extenders and incentives permanent, including the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC).
A Tax Administration report from the Treasury Inspector General estimates that $15.6 billion in Earned Income Tax Credit payments were wrongfully paid out in fiscal year 2015.