More healthcare-related regulatory news for plan sponsors, including links to detailed information.
IRS verification of ACA premium tax credit claims during the 2015 filing season
The Treasury Inspector General for Tax Administration (TIGTA) released “Affordable Care Act: Internal Revenue Service verification of premium tax credit claims during the 2015 filing season.” The report analyzes 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. The analysis found that the Internal Revenue Service (IRS) accurately determined the allowable PTC on more than 2.4 million (93%) 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.
To download the entire report, click here.