slide1
Download
Skip this Video
Download Presentation
TIPRA Tax Increase Prevention and Reconciliation Act

Loading in 2 Seconds...

play fullscreen
1 / 7

TIPRA Tax Increase Prevention and Reconciliation Act - PowerPoint PPT Presentation


  • 86 Views
  • Uploaded on

TIPRA Tax Increase Prevention and Reconciliation Act. What is TIPRA? Authorized by Public Law No. 109-222, Section 511 in May 2006

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'TIPRA Tax Increase Prevention and Reconciliation Act' - gefen


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide1
TIPRA

Tax Increase Prevention and Reconciliation Act

slide2
What is TIPRA?
  • Authorized by Public Law No. 109-222, Section 511 in May 2006
  • Requires federal, state, and local governmental entities to withhold 3% of specified payments due to any entity providing property or services to government agencies
  • Implementation date: December 31, 2011
slide3
Who and What TIPRA Affects
  • Payments to private vendors for goods/services under government contract
  • Agencies with > $100,000 of applicable payments
  • Only payments > $10,000
  • Note: TIPRA does not apply to Travel payments
slide4
Challenges To Implement TIPRA
  • Unfunded mandate / cost of implementation
  • Infrastructure not in place to capture and report data
  • Lack of processes to collect and remit payments
  • IT system modifications and maintenance
  • Impact to small business population
slide5
Status of TIPRA
  • Pending legislation to repeal TIPRA???
  • Implementation date has been pushed back
  • ARC and Oracle applications are set up to handle TIPRA transactions if necessary
slide6
ARC’s Role in TIPRA
  • Test system functionality to ensure compliance
  • Develop procedures, reporting tools, etc.
  • Participate in task force workgroup meetings headed by OMB when offered
    • Business Process Change Group
    • System Change Group
    • Legislation Change Group
slide7
For More Information On TIPRA
  • If you have specific questions or would like additional information, please contact:

Yvette Dunbar

304 480 7053

[email protected]

ad