Tax credit (61 - 70 of 91 items)
Tax Policy and Administration: 1993 Annual Report on GAO Tax-Related Work
GGD-94-82: Published: Mar 31, 1994. Publicly Released: Mar 31, 1994.
Pursuant to a legislative requirement, GAO summarized its work on tax policy and administration during fiscal year (FY) 1993, including: (1) actions federal agencies took in response to its recommendations as of December 31, 1993; (2) recommendations made to Congress before and during FY 1993 that remain open; and (3) assignments for which GAO received authorized access to tax information.GAO note...
Tax Policy: Earned Income Tax Credit: Design and Administration Could Be Improved
GGD-93-145: Published: Sep 24, 1993. Publicly Released: Sep 24, 1993.
Pursuant to a congressional request, GAO reviewed the Earned Income Credit (EIC), focusing on: (1) whether EIC meets it objectives; (2) the Internal Revenue Service's (IRS) problems in administering EIC; (3) the distribution of EIC benefits among taxpayers; (4) the extent that EIC offsets the payroll tax; and (5) EIC impact on work incentives.GAO found that: (1) most low-income families are not el...
Tax Policy: Puerto Rico and the Section 936 Tax Credit
GGD-93-109: Published: Jun 8, 1993. Publicly Released: Jul 9, 1993.
Pursuant to a congressional request, GAO presented information relevant to Congress' consideration of proposals to revise the Internal Revenue Code section 936 tax credit, which primarily affects Puerto Rico and the subsidiaries of U.S. companies that operate there.GAO found that: (1) the impact of any change to section 936 on the Puerto Rican economy depends on how to the change affects the deman...
Earned Income Tax Credit: Effectiveness of Design and Administration
T-GGD-93-20: Published: Mar 30, 1993. Publicly Released: Mar 30, 1993.
GAO discussed earned income tax credit as a wage supplement and its effect on work incentives. GAO noted that: (1) most low-income households do not qualify for the tax credit; (2) for the 18 percent targeted, the tax credit offsets payroll taxes, increases progressivity of the tax system, and provides a positive work incentive to the lowest income group with only a slight disincentive to other re...
Tax Administration: Erroneous Dependent and Filing Status Claims
GGD-93-60: Published: Mar 19, 1993. Publicly Released: Mar 19, 1993.
Pursuant to a congressional request, GAO reviewed erroneous dependent and tax filing status claims, focusing on: (1) whether the laws on dependents and filing status need to be simplified; (2) what the Internal Revenue Service (IRS) is doing to address any erroneous claims; and (3) any changes that IRS could make in its compliance programs.GAO found that: (1) taxpayers' failure to meet the depende...
Tax Administration: Overstated Real Estate Tax Deductions Need To Be Reduced
GGD-93-43: Published: Jan 19, 1993. Publicly Released: Feb 22, 1993.
Pursuant to a congressional request, GAO reviewed federal real estate tax deductions in Montgomery County, Maryland, and New Jersey and Minnesota, focusing on the: (1) extent to which taxpayers overstated their federal real estate tax deductions and related tax losses; and (2) reasons for overstated deductions.GAO found that: (1) taxpayers overstated their real estate tax deductions by about $1.5...
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...
Tax Administration: IRS' 1992 Filing Season Was Successful But Not Without Problems
GGD-92-132: Published: Sep 15, 1992. Publicly Released: Sep 15, 1992.
Pursuant to a congressional request, GAO provided information on the Internal Revenue Service's (IRS) performance during the 1992 tax filing season, focusing on: (1) service center processing of returns; (2) accuracy and accessibility of IRS toll-free telephone assistance; and (3) the availability of tax materials at IRS distribution centers and walk-in offices.GAO found that: (1) IRS received 108...
Tax Administration: Federal Contractor Tax Delinquencies and Status of the 1992 Tax Return Filing Season
T-GGD-92-23: Published: Mar 17, 1992. Publicly Released: Mar 17, 1992.
GAO discussed: (1) federal contractors' tax delinquencies; and (2) the Internal Revenue Service's (IRS) ability to provide taxpayers with timely, accurate service during the 1991 tax season. GAO noted that: (1) 22 percent of the 26,000 federal contractors reviewed were delinquent in paying their taxes and owed a total of $773 million dollars; (2) IRS only attempted to use contract payments to coll...
Earned Income Tax Credit: Advance Payment Option Is Not Widely Known or Understood by the Public
GGD-92-26: Published: Feb 19, 1992. Publicly Released: Feb 19, 1992.
Pursuant to a legislative requirement, GAO studied the effectiveness of the earned income credit (EIC) advance payment system, focusing on: (1) why more eligible workers do not take advantage of the advance payment option; (2) whether making advance payments imposes a burden on employers, especially small businesses; and (3) problems the Internal Revenue Service (IRS) has experienced with administ...