Government Insights

Tackling Program Integrity in Government Services

Government agencies face two key challenges: budgets under pressure and programs have to be streamlined to fight off fraud, waste, and abuse. Fortunately, agencies now have access to data and analytics tools that can help ensure program integrity and save taxpayer money. On May 23, Government Executive Media Group hosted a webinar called “Program Integrity: Ways [Read More…]

Sample Letter 227 Added to IRS Website, Closes Loop in ESRP Inquiries

Recently, the IRS added a new page to their website – Understanding Your Letter 227 – offering new samples of Letters 227. These five samples (Letters 227-J through -N) show the various responses that the IRS is using to acknowledge ESRP inquiries and provide employers with next steps regarding proposed ESRP amounts noted on the [Read More…]

CERCA Recap: Identity Fraud & Tax Reform Implementation

The CERCA Spring Conference, held on May 16, capped a broadly successful 2018 filing season that saw tax identity theft reduced by 65-percent from just two years ago. However, the IRS, state tax agencies, and the tax industry are facing new challenges: Fraudsters are using more sophisticated schemes, with business identity theft and account takeovers of tax [Read More…]

How Fraudsters Are Using Synthetic Identities

Pathways to Synthetic Identity Fraud Fabricated social security numbers (SSNs) and authorized user abuse are the two main pathways into synthetic identity fraud.  Fraudsters can build synthetic identities by creating a fake SSN or obtaining/stealing a real SSN and adding non-matching identifying information such as name, date of birth, and address.  Perpetrators often prefer to [Read More…]

ACA Employer Mandate Remains, Tax Bill Repeals Only Individual Mandate

On December 20, 2017, the House of Representatives held a final vote approving the Tax Cuts and Jobs Act, a tax bill that includes the repeal of the individual shared responsibility provision of the Affordable Care Act (ACA), commonly referred to as the individual mandate. The individual mandate required all United States taxpayers who did [Read More…]

ACA Penalty Notices Hit Mailboxes, Sample Letter 226J Available

Thanks to a partnership with a third-party legal consultant, Equifax has learned that employers are indeed receiving Letter 226J from the IRS for Affordable Care Act (ACA) non-compliance in tax year 2015. The Equifax ACA team explained in a recent blog post that such penalty letters were forthcoming, and now it’s confirmed they’re here. To [Read More…]

New IRS Guidance: Letter 226J, Paying ACA Penalties

Update, 11/21/17 – Letter 226J is Arriving to Employers The Equifax ACA team has learned that employers have begun receiving Letter 226J for non-compliance during tax year 2015. Additionally, a recent communication from the American Staffing Association (ASA) confirmed, “ASA has been informed that some staffing firms have begun receiving employer tax assessments from the U.S. [Read More…]

IRS Releases ACA Forms, Instructions, and Guidance for 2017

In October, the Internal Revenue Service (IRS) published updated versions of  Affordable Care Act Forms 1094-C and 1095-C, as well as the instructions for how to complete the forms for tax year 2017. Forms 1094-C and 1095-C are used by Applicable Large Employers (ALEs) to report on employer-provided health insurance offers and coverage.  The updated [Read More…]

Understanding Trump’s October 2017 Executive Actions

There have been two recent actions by President Trump regarding the Affordable Care Act (ACA) that may cause employers some confusion. The Equifax ACA team has compiled an overview to  help employers better understand what these actions mean for their organization. 1.) The Executive Order from 10/12/2017- Presidential Executive Order Promoting Healthcare Choice and Competition Across [Read More…]

New White Paper Available from Equifax – Gauging U.S. Recession Risk

Equifax has published a new white paper – Gauging U.S. Recession Risk. Written by Amy Crews Cutts, senior vice president and chief economist at Equifax and Gunnar Blix, deputy chief economist, this white paper walks through some of the concerns surrounding the timing of recessions. Key topics covered include: Up and Down Cycles Consumers Doing [Read More…]