According to a recent survey from the Audit Executive Center of the Institute of Internal Auditors (IIA), internal audit departments are putting a greater focus on compliance risks and less emphasis on SOX.
Republicans are continuing their efforts to dig up dirt on Obamacare. On November 6, Dave Camp, powerful chairman of the House Ways and Means Committee, sent a strongly worded letter to IRS Acting Commissioner Daniel Werfel.
As if there wasn't enough controversy already swirling around the Affordable Care Act, now the TIGTA reports that the IRS can't account for $67 million stashed in a slush fund intended to help enforce the law.
Despite optimism in the US economy dropping 4 percentage points in the third quarter of 2013, business executives continue to raise their expectations for hiring in the coming year, as the number of companies that plan to add new employees increased by 3 percent.
On September 5, the US Department of the Treasury and the IRS issued proposed regulations to implement the information reporting requirements for insurers and certain employers under the Affordable Care Act.
Small businesses may already be eligible for a special tax credit for providing health insurance. After issuing guidance on the credit in the form of several notices the past few years, the IRS has now released new proposed regulations summarizing the rules.
If certain Republican lawmakers have their way, the IRS will have less of the taxpayers' money to play around with. A new budget proposal would limit the IRS budget to $9 billion – a reduction of 24 percent.
The common perception is that most of the key provisions included in the Patient Protection and Affordable Care Act take effect in 2014. But employers should be advised that other responsibilities and rights kick in before then.