Taxes (71 - 80 of 129 items)
Corporate Taxes: Many Benefits and Few Costs to Reporting Net Operating Loss Carryover
GGD-93-131: Published: Sep 23, 1993. Publicly Released: Oct 25, 1993.
Pursuant to a congressional request, GAO provided information on corporate net operating losses (NOL), focusing on: (1) corporate NOL carryovers from past years; (2) Internal Revenue Service (IRS) taxpayer instructions on how to use NOL carryovers; (3) an IRS proposal to modify corporate tax returns to include the reporting of NOL carryover amounts; and (4) IRS enforcement efforts on NOL and net o...
International Taxation: Taxes of Foreign- and U.S.-Controlled Corporations
GGD-93-112FS: Published: Jun 11, 1993. Publicly Released: Jul 12, 1993.
Pursuant to a congressional request, GAO provided information on how many taxpaying corporations in various asset categories paid a minimal amount of income tax in 1989.GAO found that: (1) 40 percent of the large corporations conducting business in the United States paid no income taxes or paid income taxes of less than $100,000; (2) 30 percent of large foreign-controlled corporations with assets...
Tax Policy: Implications of Replacing the Corporate Income Tax With a Consumption Tax
GGD-93-55: Published: May 11, 1993. Publicly Released: May 11, 1993.
Pursuant to a congressional request, GAO evaluated the effects of replacing the corporate income tax with a broad-based consumption tax, focusing on the effects of the proposed uniform business tax (UBT) on: (1) economic efficiency and equity; (2) tax administration costs; and (3) tax compliance costs.GAO found that: (1) replacing the corporate income and payroll tax with UBT would raise labor inc...
International Taxation: Updated Information on Transfer Pricing
T-GGD-93-16: Published: Mar 25, 1993. Publicly Released: Mar 25, 1993.
GAO discussed transfer pricing issues facing the Internal Revenue Service (IRS), specifically tax payments of foreign-controlled corporations, exams, appeals, litigation, and new transfer pricing regulations. GAO noted that: (1) from 1987 through 1990, 72 percent of foreign-controlled corporations paid no U.S. income tax, compared to 59 percent of U.S.-controlled corporations; (2) although IRS has...
Tax Policy: 1988 and 1989 Company Effective Tax Rates Higher Than in Prior Years
GGD-92-111: Published: Aug 31, 1992. Publicly Released: Sep 19, 1992.
Pursuant to a congressional request, GAO reviewed the effects of the Tax Reform Act of 1986 on large company tax rates, focusing on: (1) effective tax rates for 1988 and 1989; and (2) reasons for low or high effective tax rates.GAO found that: (1) between 1986 and 1989, average U.S. effective tax rates increased by 72.6 percent, from 18.6 percent in 1986 to 32.9 percent in 1989; (2) by 1989, the a...
International Taxation: Problems Persist in Determining Tax Effects of Intercompany Prices
GGD-92-89: Published: Jun 15, 1992. Publicly Released: Jul 16, 1992.
Pursuant to a congressional request, GAO provided information on: (1) whether foreign companies underpay income taxes by improperly using transfer pricing; (2) how the Internal Revenue Service (IRS) determines and recovers such underpaid taxes; and (3) possible alternatives for handling transfer pricing.GAO found that: (1) foreign-controlled companies often report lower gross profits, net income,...
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...
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...
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...
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...