The Internal Revenue Service has generally been able to identify potentially improper claims for Small Business Health Care Tax Credits by tax-exempt organizations and subject them to further review, but improvements are still needed to ensure the claims are being caught in time, according to a new government report.
The report, from the Treasury Inspector General for Tax Administration, found that during tax year 2012, tax exempt organizations claimed more than $73 million in Small Business Health Care Tax Credits that were provided for under the Patient Protection and Affordable Care Act. The IRS’s Tax Exempt and Government Entities Division has designed controls that systemically identify questionable credits for potential examination.
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