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:

Date Issued:

Wednesday, August 31, 2022

Agency Reviewed / Investigated:

Submitting OIG-Specific Report Number:

2022-35-049

Location(s):

Agency-Wide

Type of Report:

Audit

Special Projects:

Questioned Costs:

Funds for Better Use:

Number of Recommendations:

View Document:

Attachment	Size
202235049fr.pdf	2.42 MB

Related Open Recommendations

Recommendation Number	Recommendation Status	Significant Recommendation
1	Open	No
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 requirements in place.
2	Open	No
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	Open	No
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 cases which currently have specific review requirements in place, to determine if the interim guidance regarding NOLs is being properly followed.