April 27, 2005

THE IRS FLUNKS AN AUDIT:

The Internal Revenue Service’s employee tuition assistance program has spent more than 60 percent of its funds — or $4.4 million in two years — on administrative costs, employing the equivalent of 30 full-time workers while turning away hundreds of employees for lack of funds, an inspector general audit has found.

(Via TaxProf, which also has a link to the audit itself).