Taxes (81 - 90 of 129 items)
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...
Social Security: Taxing Nonqualified Deferred Compensation
T-HRD-90-21: Published: Apr 5, 1990. Publicly Released: Apr 5, 1990.
GAO discussed taxation of nonqualified deferred compensation. GAO found that: (1) income deferral plans represented employers' promises to provide future income to employees for services they currently rendered; (2) self-employed persons could also defer income through contractual agreements with their clients; (3) deferred incomes provided advantages for persons with current income at or over the...
Tax Policy: Uncertain Impact of Repealing the Deferral for Reinvested Shipping Income
GGD-90-35: Published: Mar 26, 1990. Publicly Released: Mar 30, 1990.
Pursuant to a congressional request, GAO reviewed the effects of repealing the tax deferral for foreign-earned shipping income, focusing on the: (1) generation of additional tax revenues; and (2) availability of merchant ships planned for use in national emergencies.GAO found that: (1) since the passage of the Tax Reform Act of 1986, foreign-based shipping income had increasingly been subjected to...
Tax Policy: State Tax Officials Have Concerns About a Federal Consumption Tax
GGD-90-50: Published: Mar 21, 1990. Publicly Released: Mar 21, 1990.
Pursuant to a legislative requirement, GAO surveyed state tax policymakers to determine their concerns about the enactment of a federal consumption tax as a budget deficit reduction option.GAO found that: (1) 72 percent of state tax policymakers preferred the use of existing federal taxes to reduce the federal deficit; (2) 45 percent of state officials favored additional corporate income taxes, wh...
Tax Administration: Information Returns Can Be Used to Identify Employers Who Misclassify Workers
GGD-89-107: Published: Sep 25, 1989. Publicly Released: Oct 27, 1989.
Pursuant to a congressional request, GAO reviewed the Internal Revenue Service's (IRS) enforcement efforts and procedures for detecting misclassifications, focusing on whether matching independent contractors' information returns with their tax returns would provide IRS with a systematic method for identifying employers that misclassify employees as independent contractors.GAO found that: (1) 157...
Tax Policy: The Insurance Excise Tax and Competition for U.S. Reinsurance Premiums
GGD-89-115BR: Published: Sep 25, 1989. Publicly Released: Sep 25, 1989.
Pursuant to a congressional request, GAO examined the effects of the Tax Reform Act of 1986 on competition between U.S. and foreign property and casualty reinsurers in the U.S. market.GAO found that: (1) available data were inconclusive regarding the act's effects on the competitiveness of U.S. reinsurers in the domestic market; (2) the foreign share of the U.S. reinsurance market rose from 26.1 p...
Information Return Requirements for Independent Contractors
T-GGD-89-21: Published: May 16, 1989. Publicly Released: May 16, 1989.
Pursuant to a congressional request, GAO reviewed the Internal Revenue Service's (IRS) efforts to: (1) ensure that employers report payments made to independent contractors; and (2) detect employers who misclassify employees as independent contractors. GAO found that: (1) federal, state, and local governments, and businesses were not complying with tax reporting requirements; (2) IRS failed to ide...
Tax Policy: Economic, Administrative, and Taxpayer Compliance Aspects of a Gross Income Tax
GGD-89-36: Published: Feb 16, 1989. Publicly Released: Feb 16, 1989.
In response to a congressional request, GAO reviewed Department of the Treasury and Congressional Research Service (CRS) tax policy literature and studies to: (1) identify the general economic effects of the proposed gross income tax; and (2) compare certain administrative and taxpayer compliance aspects of the tax with the current tax system.GAO found that a gross income tax system would: (1) red...
Tax Policy: Deducting Interest on Funds Borrowed to Purchase or Carry Tax-Exempt Bonds
GGD-89-14: Published: Dec 19, 1988. Publicly Released: Dec 19, 1988.
In response to a congressional request, GAO reviewed various Internal Revenue Code (IRC) provisions that prohibited deduction of interest expenses associated with borrowing funds to purchase or carry tax-exempt obligations to: (1) determine whether the Internal Revenue Service (IRS) could adequately administer the provisions; (2) quantify potential compliance problems; and (3) evaluate the effects...