Taxes (21 - 30 of 80 items)
Internal Revenue Service: Fiscal Year 2009 Budget Request and Interim Performance Results of IRS's 2008 Tax Filing Season
GAO-08-567: Published: Mar 13, 2008. Publicly Released: Mar 13, 2008.
The Internal Revenue Service (IRS) has ambitious goals to improve enforcement, improve taxpayer service, increase research, and continue investing in systems modernization. The President's 2009 proposed budget is a roadmap for how IRS intends to achieve these goals. IRS's 2008 filing season performance, along with the performance of paid preparers who help taxpayers, is a key indicator of the tax...
Tax Administration: Costs and Uses of Third-Party Information Returns
GAO-08-266: Published: Nov 20, 2007. Publicly Released: Dec 20, 2007.
One proven approach for improving tax compliance is information reporting to the Internal Revenue Service (IRS) by third parties about taxpayers' income and expenses. IRS matches information returns with taxpayers' income tax returns to see if taxpayers have filed returns and reported all their income. The administration's fiscal year 2008 budget proposed requiring information reporting on merchan...
Tax Administration: 2007 Filing Season Continues Trend of Improvement, but Opportunities to Reduce Costs and Increase Tax Compliance Should be Evaluated
GAO-08-38: Published: Nov 15, 2007. Publicly Released: Dec 17, 2007.
In 2007, the Internal Revenue Service (IRS) will spend over $3 billion to process returns and provide taxpayer service. Effective service can reduce taxpayers' burden of complying with tax laws and, many tax experts believe, may improve compliance. GAO was asked to assess IRS's performance relative to 2007 goals and prior years' performance including identifying actions that might generate efficie...
Internal Revenue Service: Interim Results of the 2007 Tax Filing Season and the Fiscal Year 2008 Budget Request
GAO-07-673: Published: Apr 3, 2007. Publicly Released: Apr 3, 2007.
The Internal Revenue Service's (IRS) tax filing season performance is a key indicator of how well IRS serves taxpayers. This year's filing season was expected to be risky because of tax system changes, including the telephone excise tax refund (TETR). IRS's fiscal year (FY) 2008 budget request shows its spending proposal for taxpayer service, enforcement, and Business Systems Modernization (BSM)....
Tax Policy: New Markets Tax Credit Appears to Increase Investment by Investors in Low-Income Communities, but Opportunities Exist to Better Monitor Compliance
GAO-07-296: Published: Jan 31, 2007. Publicly Released: Jan 31, 2007.
The Community Renewal Tax Relief Act of 2000 authorized up to $15 billion of allocation authority under the New Markets Tax Credit (NMTC) to stimulate investment in low-income communities. The act mandated that GAO report on the program to Congress by January 31, 2004, 2007, and 2010. Two subsequent laws authorized an additional $1 billion in NMTC authority for certain qualified investments and ex...
Business Tax Reform: Simplification and Increased Uniformity of Taxation Would Yield Benefits
GAO-06-1113T: Published: Sep 20, 2006. Publicly Released: Sep 20, 2006.
Business income taxes, both corporate and noncorporate, are a significant portion of federal tax revenue. Businesses also play a crucial role in collecting taxes from individuals, through withholding and information reporting. However, the design of the current system of business taxation is widely seen as flawed. It distorts investment decisions, hurting the performance of the economy. Its comple...
Individual Income Tax Policy: Streamlining, Simplification, and Additional Reforms Are Desirable
GAO-06-1028T: Published: Aug 3, 2006. Publicly Released: Aug 3, 2006.
The federal government currently relies heavily on the individual income tax and payroll taxes for about 80 percent of its total annual revenue. Long-range projections show that without some form of policy change, the gap between revenues and spending will increasingly widen. The debate about the future tax system is partly about whether the goals for the nation's tax system can be best achieved b...
Understanding the Tax Reform Debate: Background, Criteria, and Questions
GAO-05-1009SP: Published: Sep 1, 2005. Publicly Released: Sep 1, 2005.
Taxes are necessary because they fund the services provided by government. In 2005, Americans will pay about $2.1 trillion in combined federal taxes, including income, payroll, and excise taxes, or about 16.8 percent of gross domestic product. Beyond funding government, the federal tax system has profound effects on the economy as a whole and on individual taxpayers, both for today and tomorrow. T...
Tax-Exempt Sector: Governance, Transparency, and Oversight Are Critical for Maintaining Public Trust
GAO-05-561T: Published: Apr 20, 2005. Publicly Released: Apr 20, 2005.
The tax-exempt sector under section 501(c) of the Internal Revenue Code covers over a million-and-a-half entities of varying sizes and purposes. Its diversity allows it to address the needs of many citizens. To help it do so, Congress and some in the tax-exempt sector itself encourage good governance practices by exempt entities. Transparency over exempt entities' activities is aided by public acc...
Tax Administration: IRS Needs to Further Refine Its Tax Filing Season Performance Measures
GAO-03-143: Published: Nov 22, 2002. Publicly Released: Nov 22, 2002.
The tax-filing season, roughly January 1 through April 15, is when most taxpayers file their returns, receive refunds, and call or visit IRS offices or the IRS Web site with questions. To provide better information about the quality of filing season services, IRS is revamping its suite of filing season performance measures. Because the new measures are part of a strategy to improve service and bec...