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IRPAC Offers Solutions on Healthcare Reporting and Fraud Reduction
- Published on Sat | 05 Nov 2011
IRS Commissioner Douglas Shulman spoke with members of the Information Reporting Program Advisory Committee (IRPAC) this month about keeping the U.S. tax system from coming to a stand still.
“People … have less opportunity to game the system when there is good information reporting,” Shulman says. He followed with the announcement that the IRS would be offering relief on the issue with the upcoming requirement to report credit card payments on Form 1099-K, titled Merchant Card and Third Party Network Payments.
Shulman also shared his vision of a real-time tax system that would get information returns to the IRS before processing personal and business income tax returns. The system would assist in preventing fraudulent refunds and additional processing complications. Read full article.