Reporting requirements (51 - 60 of 70 items)
GGD-93-55R: Published: Jul 22, 1993. Publicly Released: Jul 22, 1993.
Pursuant to a congressional request, GAO reviewed the reporting of interest payments on an Internal Revenue Service (IRS) form when the same information is reported on annual cumulative bank statements. GAO noted that: (1) the Interest and Dividend Tax Compliance Act of 1983 requires that payors provide payees with information on interest payments on separate, specified forms that contain no other...
Tax Administration: Federal Agencies Should Report Service Payments Made to Corporations
GGD-92-130: Published: Sep 22, 1992. Publicly Released: Sep 22, 1992.
GAO identified actions that the Office of Management and Budget (OMB) and other federal agencies could take to improve corporate tax compliance.GAO found that: (1) Internal Revenue Service (IRS) random audits of 19,000 small corporations showed a 20-percent decrease in small corporate tax compliance between 1980 and 1987, and that small corporations had paid only 61 percent of their 1987 federal i...
Tax Administration: IRS' Efforts to Improve Corporate Compliance
GGD-92-81BR: Published: Apr 17, 1992. Publicly Released: Jun 8, 1992.
GAO reviewed the Internal Revenue Service's (IRS) Coordinated Examination Program (CEP), focusing on: (1) trends in CEP examination results; (2) CEP audit coverage estimates; (3) a profile of CEP taxpayers; and (4) information on IRS efforts to address the drop in small corporate compliance.GAO found that: (1) CEP-recommended taxes per direct examination hour remained fairly steady from fiscal yea...
Tax Administration: Benefits of a Corporate Document Matching Program Exceed the Costs
GGD-91-118: Published: Sep 27, 1991. Publicly Released: Oct 3, 1991.
Pursuant to a congressional request, GAO analyzed issues on the feasibility of an Internal Revenue Service (IRS) document matching program for payments to corporations, focusing on: (1) what legislative actions Congress needs to take; and (2) how IRS can reduce the program's burden on the business community.GAO believes that Congress: (1) and IRS could reduce the burden of a corporate matching sys...
IRS Needs to Implement a Corporate Document Matching Program
T-GGD-91-40: Published: Jun 10, 1991. Publicly Released: Jun 10, 1991.
GAO discussed the feasibility of the Internal Revenue Service (IRS) instituting a document matching program for investment-type income earned by corporations, focusing on: (1) the benefits and costs of such a program; (2) administrative issues; and (3) potential burdens on businesses that file information returns. GAO noted that: (1) IRS data showed that corporate compliance with the tax laws sign...
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...
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...
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: Missing Independent Contractors' Information Returns Not Always Detected
GGD-89-110: Published: Sep 8, 1989. Publicly Released: Oct 12, 1989.
Pursuant to a congressional request, GAO reviewed whether Internal Revenue Service (IRS) examinations effectively identified businesses that failed to file information returns for payments made to independent contractors.GAO found that: (1) IRS examinations of business tax returns did not effectively identify businesses that failed to file required information returns on contractor payments; (2) r...