Improper Payments Elimination and Recovery Act of 2008

[AI summary unavailable — showing source text] Improper Payments Elimination and Recovery Act of 2008 - Amends the Improper Payments Information Act of 2002 to require the head of each federal agency to: (1) annually review all agency programs and identify those programs and activities that may be susceptible to significant improper payments; and (2) report on agency actions to reduce and recover improper payments. Defines "improper payment" as any payment that should not have been made, that was made in an incorrect or duplicate amount, or that was made to an ineligible recipient. Requires the Director of the Office of Management and Budget (OMB) to: (1) provide guidance to agencies for reducing improper payments, addressing risks, and establishing appropriate prepayment and postpayment internal controls; and (2) prepare an annual report with an identification of the compliance status of each agency in identifying improper payments and the delinquent programs responsible for the agency's status. Requires federal agencies with outlays of $1 million or more to conduct a recovery audit of all programs and activities to assist in recouping improper payments. Requires: (1) each agency's Inspector General to report each fi…