Compliance Efforts Are Needed to Address Refund Claims Reported on Form 1139 That Are Based on the CARES Act Net Operating Loss Carryback Provisions

Audit · Treasury Inspector General for Tax Administration · 2022-08-31 · about Internal Revenue Service

Report

Title: Compliance Efforts Are Needed to Address Refund Claims Reported on Form 1139 That Are Based on the CARES Act Net Operating Loss Carryback Provisions
Submitting OIG: Treasury Inspector General for Tax Administration
Component agency: Internal Revenue Service
Type: Audit
Publication date: 2022-08-31

#	Status	Text
1	Closed	Track and monitor examination results for the 25 “still open” examinations of Forms 1120 with reported NOL and an associated Form 1139 reported in Figure 4 of this report, excluding Joint Committee Refund cases which currently have specific monitoring…
2	Closed	Use the examination results from Recommendation 1 to assess whether to increase the number of examinations of Forms 1120 with reported NOL and an associated Form 1139.
3	Closed	The Commissioner, SB/SE Division should review the examination results and computations of proposed NOL adjustments for the 25 “still open” Form 1120 examinations with associated Forms 1139, as referenced in Figure 4, excluding Joint Committee Refund…