Tax law (51 - 60 of 60 items)
Tax Administration: IRS' Tax Gap Studies
GGD-88-66BR: Published: Mar 25, 1988. Publicly Released: Mar 25, 1988.
Pursuant to a congressional request, GAO provided information on the Internal Revenue Service's (IRS) studies on the tax gap, defined as the difference between the amount of income taxes individuals and businesses voluntarily pay and the amount of income taxes individuals and businesses actually owe.GAO found that the IRS 1988 tax gap study differed from its 1983 study in that it: (1) excluded tax...
The Merits of Establishing a Business Information Returns Program
T-GGD-87-4: Published: Mar 17, 1987. Publicly Released: Mar 17, 1987.
GAO discussed the feasibility of the Internal Revenue Service (IRS) implementing a business information returns program similar to the one it operates to assess the extent of individual taxpayers' noncompliance. GAO noted that: (1) under the program for individual returns, IRS conducts computer matches between information returns from various sources with filed tax returns to determine cases of in...
Taxation of the Insurance Industry
129132: Feb 20, 1986
A speech was given presenting GAO views on: (1) the taxation of the insurance industry; (2) property and casualty insurance companies' pricing strategies; (3) the impact of certain current tax provisions on the industry; and (4) the consolidation of property/casualty companies with parent companies that are not in the insurance business. Because the ability to offset underwriting and investment in...
Tax Policy: Congress Should Further Restrict Use of the Completed Contract Method
GGD-86-34: Published: Jan 17, 1986. Publicly Released: Feb 7, 1986.
In response to a congressional request, GAO developed and analyzed data on the extent to which manufacturing and construction contractors use the completed contract method to defer federal taxes to determine whether continued use of the method is justified.Contractors have justified the use of the completed contract method of accounting on the basis that, due to inherent uncertainties in their tra...
Federal Government Efforts To Prevent Tax Treaty Abuses
123384: Feb 28, 1984
GAO discussed Department of the Treasury and Internal Revenue Service efforts to prevent abuses of bilateral income tax treaties by non-U.S. residents. Previous studies indicated that Treasury may be losing hundreds of millions of dollar annually as a result of tax treaty abuse. GAO studied the withholding tax systems used by three nations and identified several alternatives to the present U.S. ta...
Federal Efforts To Define and Combat the Tax Haven Problem
121055: Apr 12, 1983
GAO discussed Federal efforts to define and combat the tax haven problem. Tax havens generally are defined by the tax community as countries which impose a low or zero rate of tax on all or certain categories of income and which do not impose currency control on nonresidents. GAO focused primarily on IRS efforts to detect and deter tax law abuses relating to tax havens. The Federal Government is c...
IRS Needs To Curb Excessive Deductions for Self-Employment Retirement Plans
GGD-82-85: Published: Aug 26, 1982. Publicly Released: Aug 26, 1982.
GAO reported on the deductions which self-employed individuals have been allowed, since 1962, to contribute to retirement plans authorized by Congress, known as "Keogh plans." Because the legal requirements associated with these plans are complex, there is considerable potential for error in computing allowable deductions.GAO found that the results of the Internal Revenue Service's (IRS) 1976 Taxp...
Efforts of IRS' Criminal Investigation Division To Detect and Deter Underreporters
110555: Oct 11, 1979
The Internal Revenue Service (IRS) Criminal Investigation Division needs to enhance its ability to detect and deter those persons who underreport their income for tax purposes. IRS needs a better defined national criminal enforcement strategy to effectively deal with the extensive amount of unreported income from illegal sources. Routine audits and collection actions have little chance of detectin...
110310: Sep 6, 1979
The subterranean economy report of the Internal Revenue Service (IRS) revealed that taxes are not paid on at least $135 billion of income; if people had paid the $26 billion in taxes on this income, the fiscal year 1977 budget deficit would have been reduced by 58 percent, from $45 billion to $19 billion. The Government should take actions to develop a comprehensive compliance strategy. The Treasu...