How much money is the federal government potentially losing to fraud annually?

According to government accounting organizations, the federal government could be losing between $233 billion and $521 billion annually to fraud. This estimate was released by the GAO (Government Accountability Office) last year, before recent investigations by Elon Musk and others. The issue of government fraud is significant and well-documented, with thousands of IRS investigations conducted yearly. Despite some media narratives attempting to downplay the problem, the existence of massive fraud in federal programs is not genuinely debatable.