The Treasury Inspector General for Tax Administration (TIGTA) publicly released a report yesterday describing an analysis of the accuracy of the IRS’s Income and Family Size Verification (IFSV) program in connection with the Affordable Care Act (ACA). Under ACA, the IRS must verify certain information, including family size and income, for individuals who receive healthcare insurance through the exchanges established under ACA and who claim premium tax credits (PTC). The IRS also must compute the maximum amount of the PTC that will be paid directly to insurance providers if the individual so elects. TIGTA analyzed a sample of 101,018 IFSV requests, and determined that the IRS had correctly verified the information in 99.97 percent of such requests. TIGTA also determined that the IRS calculations of PTC amounts were correct in each of 120,824 cases examined.
The report can be accessed here.