The IRS’s Inability to Keep Pace with Non-Corporate Applications for Refund of Net Operating Losses Under the CARES Act Has Cost Taxpayers Millions of Dollars in Additional Interest
The IRS Effectively Planned to Use and Provide Oversight of the American Rescue Plan Act Funds; However, Subsequent Reallocation of Modernization Funds Resulted in Significant Replanning
Compliance Efforts Are Needed to Address Refund Claims Reported on Form 1139 That Are Based on the CARES Act Net Operating Loss Carryback Provisions
American Rescue Plan Act: Assessment of the Child Tax Credit Update Portal’s Capabilities and Related Processes
Review of Social Security Tax Deferral Repayment
TIGTA is initiating a review to evaluate the IRS's efforts to ensure that taxpayers repay their deferred Social Security taxes as required. TIGTA plans to evaluate whether accurate reminder notices were sent to taxpayers who deferred their Social Security tax during Tax Year 2020, whether taxpayers made their required repayment of deferred Social Security taxes by December 31, 2021, and whether appropriate penalties and interest were assessed on taxpayers who did not timely repay their deferred Social Security tax.