March 2014 | Volume #104
If your agency undergoes an examination conducted by the Federal, State & Local Government (FLSG) branch of the IRS, you may want to review your situation and determine whether you may have one of the following common issues:
- Information return filing
- Worker classification issues
- Personal use of government property
- Form W-9
- Allowances not under accountable plan
- Payments improperly characterized
- Meals furnished
- Forms W-2 and W-3
Learn more about these issues and don’t forget, if you need
assistance, you can contact the Audit Section of the Division of Retirement and
Benefits at (907) 465-5707.
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IRS Notice 2014-15 extends the time period announced in Notice 2012-18 through December 31,
2014. Notice 2012-18, published in the Internal Revenue Bulletin on March 5,
2012, provided State housing finance agencies that participated in the Physical
Inspections Pilot Program a temporary alternative method to satisfy the
physical inspection and certification review requirements of § 1.42-5(c)(2) of
the Income Tax Regulations. The availability of this alternative method
ended on December 31, 2012.
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