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
Read more →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
Read more →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
Read more →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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