Wednesday, October 2, 2013

What About Keeping the IRS Accountable?





 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, 


Wayne 

PS. I wish the IRS was as lax with my income.
   

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