Federal taxes (61 - 70 of 90 items)
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...
IRS' Budget Request for Fiscal Year 1992 and Status of the 1991 Tax Return Filing Season
T-GGD-91-17: Published: Mar 20, 1991. Publicly Released: Mar 20, 1991.
GAO discussed the Internal Revenue Service's (IRS): (1) current fiscal condition; and (2) budget request for fiscal year (FY) 1992. GAO noted that: (1) the IRS fiscal condition appears more stable in FY 1991, enabling it to more fully implement congressionally authorized compliance initiatives; (2) congressional reallocations of IRS appropriations could require it to absorb a $74-million shortfall...
Tax Administration: IRS' 1990 Filing Season Performance Continued Recent Positive Trends
GGD-91-23: Published: Dec 27, 1990. Publicly Released: Dec 27, 1990.
Pursuant to a congressional request, GAO assessed the Internal Revenue Service's (IRS) performance during the 1990 tax return filing season, focusing on the: (1) accuracy and accessibility of its toll-free telephone assistance program; (2) availability of tax materials at its distribution centers and walk-in offices; and (3) processing of returns and related refunds.GAO found that: (1) walk-in sit...
Tax Policy: Federal Tax Deposit Requirements Should Be Simplified
GGD-90-102: Published: Jul 31, 1990. Publicly Released: Jul 31, 1990.
Pursuant to a congressional request, GAO evaluated the federal tax deposit (FTD) requirements for withheld income and social security taxes, focusing on whether the Internal Revenue Service (IRS): (1) appropriately and accurately assesses and abates deposit penalties; and (2) guidance to employers on complying with the deposit requirements was adequate.GAO found that: (1) one-third of the nation's...
Information Returns: Correcting Taxpayer Identification Is Possible Without Disclosing Tax Data
GGD-90-90: Published: Jun 5, 1990. Publicly Released: Jun 5, 1990.
Pursuant to a legislative requirement, GAO determined what options exist, without a legislative change, to help financial institutions provide correct names and taxpayer identification numbers (TIN) to the Internal Revenue Service (IRS).GAO found that: (1) while payors were not required to obtain correct names, there were many incorrect identification numbers listed due to name mismatches in IRS o...
Tax Policy: 1987 Company Effective Tax Rates Higher Than in Prior Years
GGD-90-69: Published: May 10, 1990. Publicly Released: May 17, 1990.
Pursuant to a congressional request, GAO reviewed the overall domestic and international tax burdens of large U.S. companies for 1986 and 1987.GAO found that: (1) the U.S. companies included in the study had higher U.S. and international effective tax rates in 1987 than in 1986 or the years included in earlier studies; (2) 1987 industry effective tax rates increased over earlier periods; (3) the i...
IRS Can Use Tax Gap Data to Improve Its Programs for Reducing Noncompliance
T-GGD-90-32: Published: Apr 19, 1990. Publicly Released: Apr 19, 1990.
GAO discussed Internal Revenue Service (IRS) efforts to reduce the tax gap, defined as the difference between the amount of income taxes that taxpayers owe and the amount they voluntarily pay. GAO noted that: (1) IRS estimated that the gross tax gap was $84.9 billion for 1987 and would reach $113.7 billion by 1992; (2) sole proprietors, informal suppliers, small corporations with assets under $10...
Tax Administration: Profiles of Major Components of the Tax Gap
GGD-90-53BR: Published: Apr 4, 1990. Publicly Released: Apr 19, 1990.
Pursuant to a congressional request, GAO assessed the Internal Revenue Service's (IRS) gross tax gap estimates for 1987.GAO found that: (1) for 1987, IRS estimated the tax gap to be $84.9 billion; (2) sole proprietors underpaid 23 percent of their tax liability, which reflected both unreported income and overstated business reductions; (3) informal suppliers failed to report $7.7 billion in income...
Tax Administration: Erroneous Penalties for Failure to File Returns or Pay Taxes Can Be Reduced
GGD-90-80: Published: Apr 13, 1990. Publicly Released: Apr 13, 1990.
GAO reviewed Internal Revenue Service (IRS) tax penalty assessments, abatements, and statistics.GAO found that: (1) IRS correctly granted 91 percent of abatements; (2) 29 percent of abatements were needed to correct IRS assessment errors; (3) erroneous assessments were primarily caused by IRS processing errors; (4) IRS needed better documentation on abatement decisions; (5) strengthened IRS intern...