Tax law (41 - 50 of 75 items)
Public Utilities: Disposition of Excess Deferred Taxes
GGD-91-51: Published: Sep 27, 1991. Publicly Released: Nov 4, 1991.
Pursuant to a congressional request, GAO provided information on the treatment of privately owned public utilities' excess deferred tax reserves created by the Tax Reform Act of 1986, focusing on: (1) the origin of excess deferred taxes and how utilities may and may not use them; (2) how fast excess deferred tax balances can be passed on to utility customers under normalization; (3) policy issues...
Tax Policy: Internal Revenue Code Provisions Related to Tax-Exempt Bonds
GGD-91-124FS: Published: Sep 27, 1991. Publicly Released: Sep 27, 1991.
Pursuant to a congressional request, GAO reviewed the Internal Revenue Service's (IRS) oversight of tax-exempt bonds, focusing on the relevant tax code provisions that IRS is responsible for administering to ensure that bonds qualify for tax-exempt status.GAO found that: (1) since 1968, state and local government's use of tax-exempt bond financing has increased substantially; (2) in 1968, the volu...
Simplifying Payroll Tax Deposit Rules
T-GGD-91-65: Published: Sep 12, 1991. Publicly Released: Sep 12, 1991.
GAO discussed legislation that would simplify the payroll tax deposit system. GAO noted that: (1) since the current rules for depositing payroll taxes are complex and misleading, about one-third of employers are penalized annually for noncompliance; (2) both bills would simplify those rules by requiring large employers to deposit their payroll taxes on either the Tuesday or Friday following each p...
Tax Administration: Efforts to Prevent, Identify, and Collect Employment Tax Delinquencies
GGD-91-94: Published: Aug 28, 1991. Publicly Released: Aug 28, 1991.
Pursuant to a congressional request, GAO reviewed Internal Revenue Service (IRS) efforts to prevent, identify, and collect employment tax delinquencies, focusing on whether problems exist in the overall IRS strategy for addressing employment tax delinquencies.GAO found that: (1) IRS did not have a centralized effort for preventing, identifying, or collecting delinquent employment taxes; (2) IRS co...
Simplifying Payroll Tax Deposit Rules
T-GGD-91-59: Published: Jul 24, 1991. Publicly Released: Jul 24, 1991.
GAO discussed proposed provisions to simplify the payroll tax deposit system. GAO noted that: (1) deposit rules are difficult to understand and to comply with because employers can be subject to more than one deposit rule during a tax period; (2) in 44 percent of 75 penalty cases examined, IRS tax examiners miscalculated the flat-rate penalty due to improper application of deposit requirements; (3...
Tax Administration: A Generally Successful Filing Season in 1991
GGD-91-98: Published: Jun 28, 1991. Publicly Released: Jun 28, 1991.
Pursuant to a congressional request, GAO assessed the Internal Revenue Service's (IRS) performance during the 1991 tax filing season, focusing on the: (1) accuracy and accessibility of toll-free telephone assistance; (2) availability of tax materials at distribution centers and walk-in offices; and (3) returns processing by the 10 service centers.GAO found that: (1) the accuracy of IRS answers to...
Ongoing GAO Assignment Is Examining Luxury Excise Taxes
T-GGD-91-44: Published: Jun 12, 1991. Publicly Released: Jun 12, 1991.
GAO discussed its ongoing evaluation of the policy and administrative issues associated with luxury excise taxes. GAO noted that it plans to: (1) assess Internal Revenue Service examination plans and early audit results; (2) review public comments on the proposed regulations implementing the tax to identify provisions that may present problems to taxpayers; (3) evaluate such policy issues arising...
Tax Administration: Expanded Reporting on Seller-Financed Mortgages Can Spur Tax Compliance
GGD-91-38: Published: Mar 29, 1991. Publicly Released: May 6, 1991.
Pursuant to a congressional request to assist the Internal Revenue Service (IRS) in increasing taxpayer compliance, GAO reviewed buyers' and sellers' reporting of interest payments made or received under seller-financed mortgages (SFM).GAO found that, according to an IRS study: (1) some taxpayers failed to correctly report SFM interest paid or received; (2) in one service area, IRS enforcement eff...
IRS' Efforts to Ensure Corporate Tax Compliance
T-GGD-91-21: Published: Apr 17, 1991. Publicly Released: Apr 17, 1991.
GAO discussed the Internal Revenue Service's (IRS) Coordinated Examination Program (CEP) to audit large corporations. GAO noted that: (1) between 1982 and 1992, the corporate tax gap will have grown over 3 times faster than the individual tax gap; (2) small corporations voluntarily paid 61 percent of the tax they owed in 1987, compared to 82 percent in 1980; (3) reasons for the decline in complian...
Tax Policy and Administration: 1990 Annual Report on GAO's Tax-Related Work
GGD-91-46: Published: Apr 16, 1991. Publicly Released: Apr 16, 1991.
Pursuant to a legislative requirement, GAO provided information regarding its work on tax policy and administration during fiscal year (FY) 1990, including: (1) actions federal agencies took in response to GAO recommendations as of December 31, 1990; (2) recommendations GAO made to Congress before FY 1990 that remain open; (3) assignments where Congress authorized GAO access to tax information; an...