Taxes (91 - 100 of 364 items)
Tax Compliance: Challenges in Ensuring Offshore Tax Compliance
GAO-07-823T: Published: May 3, 2007. Publicly Released: May 3, 2007.
Offshore tax evasion is difficult for the Internal Revenue Service (IRS) to address. IRS examines tax returns to deal with offshore evasion that has occurred. IRS's Qualified Intermediary (QI) program seeks to foster improved tax withholding and reporting. GAO was asked to testify on two topics. First, GAO was asked to provide information on (1) the length of, and assessments from, IRS's examinati...
Tax Compliance: Thousands of Federal Contractors Abuse the Federal Tax System
GAO-07-742T: Published: Apr 19, 2007. Publicly Released: Apr 19, 2007.
Since 1990, GAO has periodically reported on high-risk federal programs that are vulnerable to fraud, waste, and abuse. Two such high-risk areas are managing federal contracts more effectively and assessing the efficiency and effectiveness of federal tax administration. Weaknesses in the tax area continue to expose the federal government to significant losses of tax revenue and increase the burden...
2007 Tax Filing Season: Interim Results and Updates of Previous Assessments of Paid Preparers and IRS's Modernization and Compliance Research Efforts
GAO-07-720T: Published: Apr 12, 2007. Publicly Released: Apr 12, 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) which can be requested by all individuals and entities that paid the excise tax. GAO was asked to describe IRS's service to taxpayers so far this fil...
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...
Tax Debt Collection: IRS Needs to Complete Steps to Help Ensure Contracting Out Achieves Desired Results and Best Use of Federal Resources
GAO-06-1065: Published: Sep 29, 2006. Publicly Released: Oct 30, 2006.
In 2005, the inventory of tax debt with collection potential had grown to $132 billion. The Internal Revenue Service (IRS) has not pursued some tax debt because of limited resources and higher priorities. Congress has authorized IRS to contract with private collection agencies (PCA) to help collect tax debts. IRS has developed a Private Debt Collection (PDC) program to start with a limited impleme...
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...
Tax-Exempt Organizations: Collecting More Data on Donor-Advised Funds and Supporting Organizations Could Help Address Compliance Challenges
GAO-06-799: Published: Jul 27, 2006. Publicly Released: Aug 28, 2006.
Donor-advised funds and supporting organizations are two charitable-giving options that have received attention from Congress and the Internal Revenue Service (IRS) for their potential to facilitate noncompliance with tax law. As requested, GAO is providing information on donor-advised funds and supporting organizations related to (1) federal laws and regulations, compared to private foundations;...
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...
Tax Debt: Some Combined Federal Campaign Charities Owe Payroll and Other Federal Taxes
GAO-06-887: Published: Jul 28, 2006. Publicly Released: Jul 28, 2006.
The continued success of the Combined Federal Campaign (CFC), which is administered by the Office of Personnel Management (OPM), is predicated on donor confidence that each donation reaches a legitimate charitable organization. The Ways and Means Committee's review of tax-exempt entities has led to concerns that charities listed in CFC are failing to remit payroll and other taxes to IRS as require...