Tax administration (51 - 60 of 96 items)
Tax Administration: IRS Can Improve Information Reporting for Original Issue Discount Bonds
GGD-96-70: Published: Mar 15, 1996. Publicly Released: Mar 15, 1996.
GAO provided information on the Internal Revenue Service's (IRS) efforts to ensure that taxpayers report investment income earned from bonds sold at original issue discount (OID), focusing on the completeness and use of IRS Publication 1212.GAO found that: (1) IRS asserts that OID bond issuers can rely on Publication 1212 to identify all publicly offered OID bonds and compute OID income, but Publi...
Financial Audit: Examination of IRS' Fiscal Year 1994 Financial Statements
AIMD-95-141: Published: Aug 4, 1995. Publicly Released: Aug 4, 1995.
Pursuant to a legislative requirement, GAO examined the Internal Revenue Service's (IRS) financial statements for fiscal years (FY) 1993 and 1994.GAO found that: (1) critical supporting information for IRS financial statements was not available; (2) the available information was generally unreliable due to ineffective internal controls; (3) IRS internal controls did not effectively safeguard asset...
Tax Administration: Issues Involving Worker Classification
T-GGD-95-224: Published: Aug 2, 1995. Publicly Released: Aug 2, 1995.
GAO discussed the classification of workers either as employees or independent contractors for federal tax purposes. GAO noted that: (1) the Internal Revenue Service (IRS) has maintained an active audit presence despite the high levels of income tax noncompliance involving independent contractors; (2) from 1988 through 1994, IRS completed 11,380 Employment Tax Examination Program audits, resulting...
Tax-Exempt Organizations: Additional Information on Activities and IRS Oversight
T-GGD-95-198: Published: Jun 29, 1995. Publicly Released: Jun 29, 1995.
GAO discussed the activities of tax-exempt organizations and the revenue resulting from these activities. GAO noted that: (1) the tax-exempt community is dominated by several categories of organizations and characterized by the concentration of resources among larger organizations; (2) many larger tax-exempt organizations rely on income-producing activities to fund their operations; (3) in 1993, a...
Taxpayer Compliance: Reducing the Income Tax Gap
T-GGD-95-176: Published: Jun 6, 1995. Publicly Released: Jun 6, 1995.
GAO discussed the income tax gap. GAO noted that: (1) taxpayers voluntarily pay 83 percent of the taxes they owe and 87 percent after Internal Revenue Service (IRS) audits; (2) although the compliance level is relatively high, tax compliance is not uniform among groups of taxpayers; (3) IRS estimates that wage earners report 97 percent of their wages, self-employed report 36 percent of their incom...
Reducing the Tax Gap: Results of a GAO-Sponsored Symposium
GGD-95-157: Published: Jun 2, 1995. Publicly Released: Jun 2, 1995.
GAO presented the results of its symposium on key taxpayer compliance issues.GAO found that: (1) the federal tax system does not ensure uniform compliance among various groups of taxpayers; (2) major modifications in the current tax system would be required to substantially improve taxpayer compliance with tax laws, such as reducing tax law complexity and extending income tax withholding requireme...
Options Reporting to IRS
GGD-95-145R: Published: May 5, 1995. Publicly Released: May 5, 1995.
Pursuant to a congressional request, GAO provided information on possible options reporting to the Internal Revenue Service (IRS), focusing on: (1) issues to be considered in reporting such information; (2) how such information would be used; and (3) how much revenue could be generated from options reporting. GAO noted that: (1) IRS does not require options reporting because of its complex nature...
Tax Administration: Process Used to Revise the Federal Employment Tax Deposit Regulations
GGD-95-8: Published: Dec 29, 1994. Publicly Released: Dec 29, 1994.
Pursuant to a congressional request, GAO reviewed the revised federal employment tax deposit regulations issued by the Department of the Treasury and the Internal Revenue Service (IRS) on September 24, 1992, focusing on: (1) whether the Treasury and IRS developed the regulations by applying principles from the IRS Compliance 2000 initiative; (2) how the revision process could be improved; and (3)...
Social Security: Trust Funds Can Be More Accurately Funded
HEHS-94-48: Published: Sep 2, 1994. Publicly Released: Sep 2, 1994.
Pursuant to a congressional request, GAO reviewed the effect of unreported tax-exempt income on the taxation of social security benefits, focusing on: (1) additional compliance measures that would improve the Internal Revenue Service's (IRS) ability to assess and collect social security benefit taxes; and (2) how the Department of the Treasury and IRS determine the amount of revenue owed to social...
Tax Administration: Improving Independent Contractor Compliance with Tax Laws
T-GGD-94-194: Published: Aug 4, 1994. Publicly Released: Aug 4, 1994.
GAO discussed how health care reform would affect independent contractors' compliance with tax laws. GAO noted that: (1) implementing a health care reform plan that forces employers to pay the majority of their employees' health insurance premiums could lead to many employers reclassifying their employees as independent contractors; (2) a large-scale reclassification of employees could jeopardize...