Discussion and possible action to acquire the services of Cascos & Associates, PC to resolve the Internal Revenue Service Federal Excise Tax Return Form 720 notices for the County Self-Insurance program.
 
Issue: Form 720 is also utilized by the Internal Revenue Service (IRS) for Quarterly Federal Excise Tax Returns.   The County Auditor has assisted Risk Management in responding to various Internal Revenue Service notices.  The IRS notices have been addressed in a timely matter with the required documentation along with an amended Form 720.    The Internal Revenue Service however continues to issue notices for these previously addressed notices and continues assessing penalties and interest. The annual tax years in questions are 2018, 2022 and recently 2024.
 
Solution: Have the accounting firm review the underlying County documentation and tax transcripts to eliminate any additional Internal Revenue Service notices related to Form 720.
 
Result: Ensure the County Self-Insurance tax reporting is current.