I am an American and I try to loyally support the various parts of government. However, it is hard to support the idiocy of the IRS. This agency seems to be in a downward spiral of malfeasance and incompetence.
Take a look at this interesting newsletter from Wayne at The Essex Associates in Dayton, Ohio. October 1, 2013
Lost: $67 Million. If Found, Please Return To IRS
Hoo boy...this isn't going to go over well.
The IRS has seen its summer from hell extended into autumn, as a
report issued September 27, 2013 by the Treasury Inspector General for Tax
Administration (TIGTA) revealed that the Internal Revenue Service cannot
account for $67 million that was set aside in a fund to help pay for
Obamacare.
Obamacare - or more formally, the Patient Protection and
Affordable Care Act - adds several new taxes to the Code, as well as the
requirement that beginning in 2014, most individuals must carry a minimum
amount of health insurance or be required to pay a sum to the IRS upon filing
their tax return.
From 2010 through 2012, the IRS's $488 million cost of
implementing Obamcare was paid for by the Health Insurance Reform
Implementation Fund (HIRIF), a fund set up by the Department of Health and
Human Services.
TIGTA took it upon itself to conduct a little audit to ensure
that the Internal Revenue Service had the necessary processes in place to
properly account for the Obamacare-directed costs. Things did not go well. In
the report was this little nugget:
TIGTA also found that the IRS did not track
all costs associated with implementation of the ACA including costs not
charged to the HIRIF. Specifically, the IRS did not account for or
attempt to quantify approximately $67 million of indirect ACA costs incurred
for Fiscal Years 2010 through 2012.
Yup. That's $67 million of taxpayer dollars that were spent on,
well...nobody is quite sure what it was spent on.
Rather than bicker and argue over who spent the missing $67
million, the IRS has agreed to simply move on and prevent future
misappropriations by implementing the recommendations made by TIGTA with the
hopes that next time around, they'll have a better idea of what happened to
15% of their working budget.
Wishing you many happy returns,
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Wednesday, October 2, 2013
What About Keeping the IRS Accountable?
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