Tag: overpayments
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IRS Keeps Interest Rates Steady for Fourth Quarter 2026
The IRS announced interest rates for tax overpayments and underpayments will remain unchanged for the fourth quarter of 2026. Individuals face 7%, while corporate rates vary, based on the federal short-term rate.
BusinessPolitics and GovernmentEconomyFederal GovernmentLegalFinancial Markets IRSInterest RatesTaxationOverpaymentsUnderpaymentsCorporationsIndividuals
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IRS Interest Rates Unchanged for Fourth Quarter 2026
The IRS announced interest rates for Q4 2026 will remain constant. Individuals face 7% for overpayments and underpayments, while corporate rates vary from 4.5% to 9% depending on the type and amount.
Politics and GovernmentBusinessFederal GovernmentEconomyLegal IRSInterest RatesTaxesOverpaymentsUnderpaymentsCorporationsIndividuals
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SSA Audit Identifies $106 Million in Potential Overpayment Recoveries from Deceased Beneficiaries
An SSA OIG audit found the agency failed to follow recovery policies for nearly half of deceased beneficiaries, potentially missing $106 million in overpayments. The SSA has agreed to implement new controls to address these findings.
Politics and GovernmentFederal GovernmentEconomySocial IssuesGeneral Politics Social Security AdministrationSSA OIGauditoverpaymentsdeceased beneficiariesOld-Age, Survivors, and Disability InsuranceGovernment
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SSA Audit Uncovers $106 Million in Unrecovered Deceased Beneficiary Overpayments
An SSA OIG audit found the agency failed to recover an estimated $106 million in overpayments from deceased beneficiaries, with employees not following policy in nearly half of reviewed cases. SSA has agreed to implement recommendations to improve recovery efforts.
Politics and GovernmentBusinessFederal GovernmentEconomyLegalSocial Issues Social Security AdministrationAuditOverpaymentsDeceased BeneficiariesRecovery EffortsPolicy ComplianceGovernment
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Audit Reveals Weaknesses in Social Security Fraud Restitution Monitoring, Millions Uncollected
An SSA OIG audit found significant weaknesses in recording and monitoring court-ordered restitutions for Social Security fraud, potentially leaving an estimated $18.6 million uncollected and risking public trust due to insufficient oversight.
Politics and GovernmentLaw EnforcementFederal GovernmentLegalEconomy Social Security AdministrationOIGAuditFraudRestitutionOverpaymentsGovernment
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SSA Updates Policies on Disability Reviews and SSI Overpayment Recovery
The SSA updated its POMS on May 11, 2026, clarifying procedures for Continuing Disability Review (CDR) folder reconstruction and Supplemental Security Income (SSI) overpayment recovery. New guidelines detail recovery methods, typically 10% of the federal benefit rate, and address appeal…
Politics and GovernmentHealthFederal GovernmentEconomyMedical ScienceSocial IssuesLegal Social Security AdministrationContinuing Disability ReviewSupplemental Security IncomeOverpaymentsPolicy UpdatesBenefit RecoveryGovernment
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SSA Audit Reveals Costly Overpayment Recovery Efforts
An SSA OIG audit found the agency spent $2 million more recovering low-dollar overpayments than it collected. The report highlights a failure to implement prior recommendations and a need for clearer policy on cost-beneficial collection efforts.
Politics and GovernmentBusinessFederal GovernmentEconomyEmployment and LaborLegal Social Security AdministrationSSA OIGAuditOverpaymentsOASDITaxpayer FundsGovernment Spending