Posts Tagged TIGTA

TIGTA Examines IRS’s Handling of Fraudulent Returns

The Treasury Inspector General for Tax Administration (TIGTA) recently reviewed the IRS’s handling of fraudulent returns filed by incarcerated individuals. According to TIGTA, some 17,000 incarcerated individuals claimed potentially fraudulent refunds worth $48 million. TIGTA reported that returns frequently are not supported by third-party income documents. In…

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Lawmakers Hold Hearing on IRS Record Retention Practices

The Oversight Subcommittee of the House Ways and Means Committee reviewed the IRS’s record retention practices at a hearing on July 25. Officials from the IRS and the Treasury Inspector General for Tax Administration (TIGTA) testified. “The IRS has long been challenged in the area of record…

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IRS’ Processes Inadequate for Notifying Individuals Without Health Insurance

The IRS did not issue the required notification letters by June 30, 2015, to taxpayers without Minimum Essential Coverage under the Patient Protection and Affordable Care Act (ACA) for tax year 2014, the Treasury Inspector General for Tax Administration (TIGTA) reported. In March 2016, the IRS’s ACA…

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TIGTA Releases Report on Implementation of Identity Theft Measures for 2016 Filing Season

The Treasury Inspector General for Tax Administration (TIGTA) has released a report regarding the implementation of new tax return-related data elements based on the 2015 Security Summit, Protecting Taxpayers from Identity Theft Tax Refund Fraud. TIGTA has concluded that tax-related identity thefts adversely affect the ability of…

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Treasury Inspector Suggests Improvements to Identify Unsupported Claims for Foreign Tax Credits

The IRS did not have sufficient controls and processes in place to identify erroneous Foreign Tax Credit (FTC) claims, the Treasury Inspector General for Tax Administration (TIGTA) has reported. The audit was initiated to determine whether the IRS controls ensured that the FTC was accurately claimed on…

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PPACA Information Returns Project Needs Stronger Security and Testing Control Improvements, TIGTA Reports

According to a report by the Treasury Inspector General for Tax Administration (TIGTA), the IRS needs to make improvements to strengthen security and to test controls for the Affordable Care Act Information Returns Project. The IRS is required to calculate and collect annual fees based on reports…

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TIGTA Finds Fault with Existing IRS Safeguards for Taxpayer Information Released to Health Care Exchanges

In an audit report released on October 23, 2014, the Treasury Inspector General for Tax Administration (TIGTA) has found that the IRS should revise its procedures to better ensure protection of federal tax information scheduled to be released to the health care exchanges under the Patient Protection…

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Action Needed to Ensure Tax Compliace with FIRPTA

According to new audit report from the Treasury Inspector General for Tax Administration (TIGTA), current IRS procedures are insufficient to ensure that all foreign seller real estate transactions subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) are in fact compliant with FIRPTA.…

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