Tax law (101 - 110 of 311 items)
Tax Policy and Administration Issue Area Plan--Fiscal Years 1998-1999
IAP-97-16: Published: Jul 1, 1997. Publicly Released: Jul 1, 1997.
GAO provided information on its Tax Policy and Administration issue area plan for fiscal years 1998 through 1999.GAO plans to assess: (1) the Internal Revenue Service's (IRS) efforts to link performance measures and budgeting; (2) IRS' restructuring alternatives; (3) ways to simplify the estimated tax rules; (4) IRS' plans to increase voluntary compliance and prevent noncompliance through research...
Earned Income Credit: Noncompliance Relative to Other Components of the Income Tax Gap
GGD-97-120R: Published: Jun 13, 1997. Publicly Released: Jun 13, 1997.
GAO compared noncompliance and associated Internal Revenue Service (IRS) enforcement issues for Earned Income Credit (EIC) claimants and other taxpayer groups, such as the self-employed.GAO noted that: (1) IRS estimated that 25.8 percent of EIC, or $4.4 billion, was overclaimed in tax year 1994; (2) this is a relatively high error rate, but the gross dollar amount is lower than that of some other...
Tax Policy: Puerto Rican Economic Trends
GGD-97-101: Published: May 14, 1997. Publicly Released: Jun 12, 1997.
Pursuant to a congressional request, GAO provided information on economic activity in Puerto Rico, before and after the recent changes in tax benefits for corporations operating there, focusing on recent trends in: (1) Puerto Rico's principal economic indicators; (2) investments by U.S. corporations in Puerto Rico that generate tax-exempt, nonbusiness income; and (3) investment and employment prom...
Tax Administration: Factors Affecting Results from Audits of Large Corporations
GGD-97-62: Published: Apr 17, 1997. Publicly Released: Apr 17, 1997.
GAO reviewed the Internal Revenue Service's (IRS) program to audit the tax returns of about 45,000 large corporations that are not in the Coordinated Examination Program (CEP), focusing on factors that contributed to the assessment rate and audit results.GAO noted that: (1) IRS invested 25 percent more hours in audits of large corporations during 1994 than it did in 1988, yet it recommended 23 per...
Tax Credits: Opportunities to Improve Oversight of the Low-Income Housing Program
GGD/RCED-97-55: Published: Mar 28, 1997. Publicly Released: Apr 9, 1997.
Pursuant to a congressional request, GAO provided information on the low-income housing tax credit program, focusing on the: (1) characteristics of the residents and properties that have benefitted from low-income housing tax credits; and (2) controls the Internal Revenue Service (IRS) and states have to ensure that state priority housing needs are met, housing project costs, including tax credit...
Tax Policy: Information on the Joint and Several Liability Standard
GGD-97-34: Published: Mar 12, 1997. Publicly Released: Mar 12, 1997.
Pursuant to a legislative requirement, GAO reported on several issues related to the joint and several liability standard that applies to jointly filed federal income tax returns, focusing on: (1) the potential universe of taxpayers that may be eligible for innocent spouse relief; (2) the Internal Revenue Service's (IRS) practices and procedures for handling requests for innocent spouse relief; (3...
Taxpayer Compliance: Analyzing the Nature of the Income Tax Gap
T-GGD-97-35: Published: Jan 9, 1997. Publicly Released: Jan 9, 1997.
GAO discussed the income tax gap, the difference between income taxes owed and those voluntarily paid. GAO noted that: (1) the Internal Revenue Service's (IRS) data suggest that U.S. taxpayers voluntarily pay about 83 percent of the income taxes they owe and ultimately pay about 87 percent after IRS enforcement programs; (2) this compliance level, in combination with economic growth, translates in...
Tax Administration: Employment Taxes and Small Business
T-GGD-97-21: Published: Nov 8, 1996. Publicly Released: Nov 8, 1996.
GAO discussed the impact of various employment tax laws and regulations on small businesses hiring their first employees and all employees thereafter. GAO noted that: (1) employment tax compliance can be particularly burdensome to employers because of multiple federal, state, and local taxes; (2) each tax generally requires it own unique set of rules, regulations, and exceptions, which makes compl...
Tax Administration: IRS Is Improving Its Controls for Ensuring That Taxpayers Are Treated Properly
GGD-96-176: Published: Aug 30, 1996. Publicly Released: Sep 17, 1996.
Pursuant to a congressional request, GAO examined the: (1) adequacy of the Internal Revenue Service's (IRS) controls to protect against abuse of taxpayers; (2) extent of information available concerning abuse allegations received and investigated by IRS, the Department of the Treasury Office of the Inspector General (OIG), and the Department of Justice (DOJ); and (3) OIG role in investigating abus...
Tax Policy: Analysis of Certain Potential Effects of Extending Federal Income Taxation to Puerto Rico
GGD-96-127: Published: Aug 15, 1996. Publicly Released: Sep 5, 1996.
Pursuant to a congressional request, GAO provided information on the potential effects of extending the Internal Revenue Code (IRC) to residents of Puerto Rico.GAO found that if IRC tax rules are applied to residents of Puerto Rico: (1) the residents would owe around $623 million in federal income tax before taking into account the earned income tax credit (EITC); (2) the aggregate amount of EITC...