Department of the Treasury (31 - 40 of 2,769 items)
Patient Protection and Affordable Care Act: Results of Undercover Enrollment Testing for the Federal Marketplace and a Selected State Marketplace for the 2016 Coverage Year
GAO-16-784: Published: Sep 12, 2016. Publicly Released: Sep 12, 2016.
The Patient Protection and Affordable Care Act (PPACA) requires health-insurance marketplaces to verify application information to determine eligibility for enrollment and, if applicable, determine eligibility for income-based subsidies. Verification steps include validating the applicant's Social Security number, if one is provided; citizenship or immigration status; and household income. PPACA r...
401(K) PLANS: DOL Could Take Steps to Improve Retirement Income Options for Plan Participants
GAO-16-433: Published: Aug 9, 2016. Publicly Released: Sep 8, 2016.
Workers relying in large part on their 401(k) plan in retirement may not always have a feasible way to make their savings last throughout retirement. Responses to GAO’s non-generalizable questionnaire from 11 401(k) plan record keepers—entities that manage participant account data and transactions for plans—showed that most plans covered by the questionnaire had not adopted products and serv...
Regulatory Guidance Processes: Treasury and OMB Need to Reevaluate Long-standing Exemptions of Tax Regulations and Guidance
GAO-16-720: Published: Sep 6, 2016. Publicly Released: Sep 6, 2016.
The Internal Revenue Service (IRS) uses a variety of documents to communicate its interpretation of tax laws to the public, but only considers Internal Revenue Bulletin (IRB) guidance to be authoritative. IRS information published outside of the IRB can help taxpayers understand tax laws and make informed decisions, but does not always include information clarifying the limitations of its use. IRS...
Troubled Asset Relief Program: Status of Prior GAO Recommendations
GAO-16-831: Published: Sep 6, 2016. Publicly Released: Sep 6, 2016.
As of August 2016, GAO's performance audits of the Troubled Asset Relief Program (TARP) activities have resulted in 74 recommendations to the Department of the Treasury (Treasury). Treasury has implemented 62 of the 74 recommendations, some of which were aimed at improving the transparency and internal controls of TARP. Five recommendations remain open, all pertaining to the Making Home Affordable...
DOD Financial Management: Improvements Needed in the Navy's Audit Readiness Efforts for Fund Balance with Treasury
GAO-16-47: Published: Aug 19, 2016. Publicly Released: Aug 19, 2016.
The Navy has made progress in performing audit readiness activities, including developing a financial improvement plan (FIP) for its Fund Balance with Treasury (FBWT). These activities are critical to the Navy's General Fund Statement of Budgetary Resources (SBR) improvement efforts. The Navy's FBWT FIP is particularly important as it addresses improvement efforts across multiple business processe...
Airport and Airway Trust Fund: Less Than Half of Noncommercial Jet Fuel Tax Receipts Are Transferred
GAO-16-746R: Published: Aug 8, 2016. Publicly Released: Aug 8, 2016.
The total number of potentially registerable vendors of jet fuel used in noncommercial aviation is unclear, but is likely greater than the number that have registered with the Internal Revenue Service (IRS) based on industry information. While registered vendors—called “ultimate vendors”—are eligible to receive credits or refunds for sales of such jet fuel, some ultimate vendors are not cl...
DATA Act: Initial Observations on Technical Implementation
GAO-16-824R: Published: Aug 3, 2016. Publicly Released: Aug 3, 2016.
GAO found that the Office of Management and Budget (OMB) and the Department of the Treasury (Treasury) have taken steps to assure the quality of the federal spending data that will be made available to the public under the Digital Accountability and Transparency Act of 2014 (DATA Act). These steps include creating a broker system to (1) check that submitted data follow a standardized format that w...
DATA ACT: Improvements Needed in Reviewing Agency Implementation Plans and Monitoring Progress
GAO-16-698: Published: Jul 29, 2016. Publicly Released: Jul 29, 2016.
The Office of Management and Budget (OMB) and the Department of the Treasury (Treasury) have not designed and implemented controls or fully documented processes related to the review and use of agency implementation plans for the Digital Accountability and Transparency Act of 2014 (DATA Act). These controls and processes are to be used for reviewing agencies' implementation plans and monitoring ag...
Inland Waterways Fuel Tax: Additional Data Could Enhance IRS's Efforts to Ensure Taxpayer Compliance
GAO-16-682: Published: Jul 29, 2016. Publicly Released: Jul 29, 2016.
Based on results of audits, the Internal Revenue Service (IRS) views vessel operators to be substantially in compliance with requirements to report and pay the Inland Waterways Fuel Tax (fuel tax). IRS seeks to ensure compliance by auditing quarterly excise-tax returns filed by these operators, as well as identifying operators that failed to file (nonfilers).Audits of filed returns: IRS data show...
Management Report: Areas for Improvement in the Bureau of the Fiscal Service's Information Systems Controls
GAO-16-655R: Published: Jul 28, 2016. Publicly Released: Jul 28, 2016.
During GAO's audit of the Schedules of Federal Debt Managed by the Department of the Treasury’s Bureau of the Fiscal Service (Fiscal Service) for the fiscal years ended September 30, 2015, and 2014, GAO identified control deficiencies relating to information systems controls relevant to the Schedule of Federal Debt that it does not consider individually or collectively to be material weaknesses...