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29 Matching News Items

1.  Treasury Inspector General Report on Accuracy of IRS Responses to ACA Exchange Requests for Income and Family Size Verification Information and Maximum Advance Premium Tax Credit Calculation (PDF)
Treasury Inspector General for Tax Administration [TIGTA], U.S. Department of the Treasury Link to more items from this source
Aug. 5, 2014
"Our review of the IRS's response to [more than 100,000] requests received by the IRS between October 1 and October 4, 2013, showed that the IRS ... provided accurate responses for ... 99.97 percent [of the] requests.... In addition, TIGTA reviewed the IRS's response to [more than 120,000 Advance Premium Tax Credit (APTC)] requests received between October 1 and October 14, 2013. This review showed that the IRS, based on information furnished by the Exchange, accurately calculated the maximum monthly APTC for [each one of those] requests."
2.  Treasury Inspector General Report: Improvements Are Needed to Strengthen Systems Development Controls for the Premium Tax Credit Project (PDF)
U.S. Treasury Inspector General for Tax Administration [TIGTA] Link to more items from this source
Dec. 5, 2013
"[I]mprovements are needed to ensure the long-term success of the [Premium Tax Credit] Project by adherence to systems development controls for: [1] configuration and change management; [2] interagency test management process; [3] security; and [4] fraud detection and mitigation, in accordance with applicable Technology Officer. guidance.... [T]he IRS agreed with six of the recommendations and plans to implement corrective actions. However, the IRS disagreed with one of our recommendations to ensure that the Cybersecurity organization resolves or develops an action plan for the failed security tests. TIGTA maintains that this recommendation should be addressed to verify that corrective measures for failed controls have been implemented." [Sept. 27, 2013, published online Dec. 3, 2013]
3.  Treasury Inspector General Report: Additional Measures Needed to Provide Greater Assurance That Tax Information Provided to Health Exchanges Is Protected (PDF)
Treasury Inspector General for Tax Administration [TIGTA], U.S. Department of the Treasury Link to more items from this source
Oct. 23, 2014
"This audit was initiated to determine whether IRS Office of Safeguards has implemented sufficient policies and procedures to ensure that ACA Exchanges are adequately protecting [Federal Tax Information (FTI)] received from the IRS.... The current documentation on which the Office of Safeguards bases its approval decision for release of FTI does not provide sufficient evidence that required controls have been implemented. TIGTA also found deficiencies in procedures related to obtaining signed system security authorizations and ensuring that on-site reviews of agencies that have deployed new systems occur in a timely manner." [Report is dated Sept. 16, 2014; released Oct. 23, 2014.]
4.  Treasury Inspector General Report: Improvements Are Needed to Strengthen Security and Testing Controls for the ACA Information Returns Project (PDF)
Treasury Inspector General for Tax Administration [TIGTA], U.S. Department of the Treasury Link to more items from this source
Dec. 2, 2014
44 pages. "The ACA Information Returns (AIR) Release 1 Project is an information technology project managed under the IRS's ACA Program.... The overall objective of this review was to determine if the IRS is adequately mitigating systems development risks ... TIGTA evaluated the IRS's key management controls and processes for risk management, requirements and change management, testing, security, and fraud detection ... [I]mprovements are needed to ensure the long-term success of the AIR system by adherence to systems development controls for security and testing activities in accordance with applicable guidance.... These security control weaknesses could impact the AIR system's ability to reliably process the electronic form reports and to accurately determine the applicable fees." [Dated Sept. 29, 2014; published online Dec. 1, 2014]
5.  Treasury Inspector General Report: Improvements Are Needed by IRS to Ensure Accuracy of Allocation of the Health Insurance Provider Fee (PDF)
Treasury Inspector General for Tax Administration [TIGTA] Link to more items from this source
Sept. 24, 2015
"The IRS used third-party data to the extent that the data were available to identify the covered entities required to file Form 8963, Report of Health Insurance Provider Information. However, third-party data were not available for all covered entities that are required to file.... 665 (53.9 percent) of the 1,233 providers that were listed on Forms 8963 were not included in premium information from third-party sources.... [R]egulations do not provide a process for the IRS to correct the health insurance provider fee for all covered entities once the final fee letters are distributed.... TIGTA recommended that the Commissioner, Large Business and International Division, work with the Department of the Treasury to amend the regulations to provide for a reconciliation process to ensure that the fee is accurately allocated among covered entities. The IRS disagreed with this recommendation[.]"
6.  Treasury Inspector General Report: IRS Should Notify and Educate Taxpayers About Required Minimum Distributions from IRAs
Treasury Inspector General for Tax Administration [TIGTA] Link to more items from this source
July 15, 2015
"TIGTA recommended ... [1] directly communicating with taxpayers required to take a distribution and informing them about the distribution rules, using easily understood language; and [2] if the notice program is expanded, modifying the methodology for the required minimum distribution notices to identify additional noncompliant individuals.... IRS officials partially agreed ... However, due to budget limitations, the IRS is not expanding its use of notices. In addition, the IRS agreed that direct communication with taxpayers reaching the age of 70-1/2 would be helpful, but it is not implementing this program due to budget constraints. The IRS did not agree to inform estates of distribution rules associated with IRA inheritances." [Dated May 29, 2015; released July 15, 2015.]
7.  Inspector General Assessment of IRS Implementation Planning Efforts for the Excise Tax on Excess Compensation Paid by Tax-Exempt Organizations (PDF)
Treasury Inspector General for Tax Administration [TIGTA] Link to more items from this source
June 10, 2019
23 pages. "TE/GE Division management has not completed a strategy to address noncompliance with the new tax. Although TE/GE Division management acknowledged the need for a compliance strategy and took preliminary steps in that process, as of December 31, 2018, they had not established a timeline for further development and implementation of compliance activities. Affected organizations will begin reporting the excise tax on returns filed as early as May 2019. A fully developed compliance strategy is needed to monitor and track potential noncompliance with the new excise tax."
8.  Text of Inspector General Report: Processes Have Been Implemented to Administer the Patient-Centered Outcomes Research Fee, But Controls Need Improvement to Ensure Filing Compliance (PDF)
Treasury Inspector General for Tax Administration [TIGTA] Link to more items from this source
Apr. 29, 2015
"TIGTA found that 72,035 health insurance policy issuers/self-insured plan sponsors filed a Form 720, Quarterly Federal Excise Tax Return, with PCOR fees totaling $114 million for Tax Year 2012. Of these filers, 30,996 (43 percent) paid a PCOR fee of less than $4.25, which is the IRS's cost to process these returns.... TIGTA believes establishing a systemic error report that generates when the PCOR fee and/or tax payments do not match for Forms 720 with a PCOR fee will have minimal impact on IRS resources and allow the IRS to improve its monitoring of PCOR fee reporting and payment compliance."
9.  ACA Reporting Compliance: Inspector General's Report May Foreshadow a More Intolerant IRS
Lockton Link to more items from this source
July 15, 2020
"The Treasury Inspector General for Tax Administration (TIGTA) recently reported that, due to the IRS's leniency related to ACA employer mandate compliance and reporting, penalty collections under the ACA for violations of the mandate have been a fraction of what was expected at the time of the ACA passage.... Unfortunately for employers, rather than ascribing that deficit to poor prognostication skills on the part of the CBO, TIGTA ascribed that disparity to deficiencies -- too soft gloved an approach -- in the IRS assessment and collection process."
10.  TIGTA Report: Sensitive Business and Individual Tax Account Information Stored on Microfilm Cannot Be Located (PDF)
Treasury Inspector General for Tax Administration [TIGTA[ Link to more items from this source
Aug. 13, 2023
30 pages. "Significant deficiencies exist in the IRS's accounting for microfilm backup cartridges. Deficiencies result in the inability of the IRS to account for thousands of microfilm cartridges containing millions of sensitive business and individual tax account records. The sensitive business and individual taxpayer information stored on the unaccounted for cartridges are key information that can be used to commit tax refund fraud identity theft."
11.  TIGTA Report: IRS Verification of ACA Premium Tax Credit Claims During the 2015 Filing Season (PDF)
Treasury Inspector General for Tax Administration [TIGTA] Link to more items from this source
May 3, 2016
"TIGTA's analysis of more than 2.6 million tax returns with a [premium tax credit (PTC)] claim that were filed between January 20, 2015, and May 28, 2015 ... found that the IRS accurately determined the allowable PTC on more than 2.4 million (93 percent) returns. TIGTA is continuing to work with the IRS to determine the cause for calculation differences in 150,385 of the remaining 182,884 tax returns. Computer programming errors resulted in an incorrect computation of the allowable PTC for 27,827 tax returns."
12.  Statistical Trends in Retirement Plans (PDF)
Treasury Inspector General for Tax Administration, U.S. Department of the Treasury Link to more items from this source
Sept. 20, 2010
36 pages. Excerpt: Retirees may not have enough income from retirement plans alone to cover their financial needs during retirement, according to a report publicly released [Sept. 15] by the Treasury Inspector General for Tax Administration (TIGTA).
13.  TIGTA Report: Improvements Have Been Made, but Controls Need to Be Strengthened to Detect Improper Self-Employed Retirement Deductions (PDF)
Treasury Inspector General for Tax Administration [TIGTA], U.S. Department of the Treasury Link to more items from this source
Dec. 14, 2020
38 pages. "TIGTA made six recommendations, including adding Schedule SE to processing controls, enhancing controls to determine the reasonableness of self-employed retirement deductions, assessing the need for additional third-party data to verify deductions, and changing Form 5498 instructions for consistency. In their response, IRS management agreed with two recommendations and plans to take corrective actions. However, the IRS did not agree to enhancing controls to determine the reasonableness of self-employed retirement deductions, assessing the need for additional third-party data, and changing the Form 5498 instructions. TIGTA believes these actions would improve tax compliance and potentially increase revenue by $890 million over the next five years."
14.  TIGTA Audit Report 2021-16-044: Taxpayers Were Notified About the CARES Act Retirement Plan Provisions But Additional Actions Could Be Taken to Identify Potential Noncompliance (PDF)
Treasury Inspector General for Tax Administration [TIGTA], U.S. Department of the Treasury Link to more items from this source
July 22, 2021
21 pages. "Although the Section 2202 Compliance Plan assessed the effect on examination activities and outlined the steps necessary to encourage and enforce taxpayer compliance, it could be improved.... TIGTA recommended that the Commissioner, Small Business/Self-Employed Division, ensure that management has sufficient information available to assess compliance with Section 2202 of the CARES Act and consider creating a Lead Sheet to assist examiners when reviewing cases for potential noncompliance. In their response, IRS management disagreed with both recommendations."
15.  ACA: Controls Over Financial Accounting for the Premium Tax Credit Should Be Improved (PDF)
Treasury Inspector General for Tax Administration [TIGTA], U.S. Department of the Treasury Link to more items from this source
Mar. 11, 2016
22 pages. "TIGTA found errors in the IRS financial accounting and reporting of PTC-related fund outlays.... The errors we identified were due to a programming miscalculation. The miscalculation was not caught due to insufficient testing of the financial system programming developed to account for the impact of the reconciliation of PTC fund outlays (disbursements). Due to this programming error, the IRS understated the amount of PTC disbursements and overstated the balance in the IRS PTC account by $447 million. Further, the error TIGTA identified in the financial accounting records, if left uncorrected, would have resulted in a misstatement of the Fiscal Year 2015 IRS financial statements refundable credits in excess of tax liability account."
16.  TIGTA Report on ACA Coverage Data Repository: Risks with Systems Development and Deployment (PDF)
Treasury Inspector General for Tax Administration [TIGTA] Link to more items from this source
Sept. 8, 2015
45 pages. Dated June 2, 2015; released Sept. 8, 2015. "The IRS is developing the Coverage Data Repository (CDR) ... [which] will be the IRS's sole authoritative source of all ACA data for health care-related functions and services... TIGTA found that risks could not be effectively mitigated by CDR testing processes.... During project-level testing, system developers did not always demonstrate CDR functionality to business owners and did not maintain complete records verifying business participation. The CDR was deployed before responsible officials completely assessed security risks and authorized the system to operate. The CDR Application Audit Plan was not implemented as needed to support the IRS's program and policy to mitigate risks for unauthorized access to taxpayers' records."
17.  TIGTA Assessment of Efforts to Implement the Employer Shared Responsibility Provision (PDF)
Treasury Inspector General for Tax Administration [TIGTA] Link to more items from this source
Apr. 10, 2017
43 pages. "As of October 28, 2016, the IRS had processed 439,201 Forms 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, and nearly 110 million Forms 1095-C, Employer-Provided Health Insurance Offer and Coverage. However, our review identified that some of the processes did not function as intended, which resulted in the IRS not having accurate and complete data for use in its compliance strategy to identify noncompliant employers potentially subject to the Employer Shared Responsibility Payment. In addition, due to system errors, the IRS was unable to process paper information returns timely and accurately.... Further, the criteria used to identify validation errors in the submissions did not always work as intended.... Finally, the development and implementation of key systems needed to identify noncompliant employers subject to an Employer Shared Responsibility Payment have been delayed, not initiated, or cancelled."
18.  Verification of ACA Premium Tax Credit Claims During the 2016 Filing Season (PDF)
Treasury Inspector General for Tax Administration [TIGTA] Link to more items from this source
Mar. 6, 2017
51 pages. "TIGTA's analysis of approximately 4.9 million tax returns processed by the IRS as of May 1, 2016, found that the IRS accurately determined the amount of allowable PTC on more than 4.7 million (97 percent) returns. For the remaining 154,744 tax returns, either programming errors resulted in an inaccurate PTC computation or high-risk tax returns were not identified as potentially erroneous because the discrepancy amount was below the dollar tolerance for which the IRS will review a claim."
19.  Additional Actions Could Improve Compliance with Early Retirement Distribution Tax Requirements (PDF)
Treasury Inspector General for Tax Administration [TIGTA] Link to more items from this source
May 26, 2020
30 pages. "For Tax Year (TY) 2016, [the IRS's Automated Underreporter (AUR) Program] identified 102,988 cases for which the taxpayers reported an early distribution from their retirement account on their tax return but did not pay the 10 per cent additional tax.... During TY 2016, the AUR Program selected 8,429 (8 percent) of these cases to work. The remaining 94,559 cases (92 percent) were not selected.... Of the 8,429 cases selected for work, 2,737 (32 percent) resulted in additional assessments.... 3 percent of the 102,988 cases the AUR Program identified for which taxpayers reported an early distribution but did not pay the early distribution tax were ultimately assessed additional taxes by the AUR Program."
20.  Review of the IRS Tax Exempt and Government Entities Division: Fiscal Year 2019 Statistical Trends (PDF)
Treasury Inspector General for Tax Administration [TIGTA], U.S. Department of the Treasury Link to more items from this source
May 6, 2021
50 pages. "The number of determinations requests received decreased by 65 percent over FYs 2015 through 2019. ... [T]he primary reason for this drop was a change in the determination letter submission process. ... While Forms 5500 and 5500-EZ filings declined from FY 2015 through FY 2019, Form 5500-SF filings for small employee benefit plans have increased and made up over 60 percent of total filings each year.... Although the number of EP function examination closures decreased from 8,705 closures in FY 2015 to 5,848 in FY 2019 (nearly 33 percent), the no change rate decreased by 17 percent over the same period. This indicates that although the EP function is completing fewer examinations, the cases selected are yielding issues worthy of review." [Employee benefits discussion begins on page 9.]
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