Tax evasion (51 - 54 of 54 items)
The Underground Economy
110919: Nov 15, 1979
The Internal Revenue Service (IRS) estimated that during tax year 1976 as much as $135 billion in income went unreported and, as a result, as much as $26 billion in potential tax revenues to the Government went uncollected. These estimates are probably understated because IRS did not include estimates of unreported illegal-source income for many type activities such as arson for profit; smuggling...
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...
The Tax Status of Federal Resale Activities: Issues and Alternatives
FPCD-79-19: Published: Apr 19, 1979. Publicly Released: Apr 19, 1979.
The largest resale activities in the federal government are the Department of Defense commissaries, exchanges, clubs, and liquor stores. Because they are considered federal instrumentalities, these activities are exempt from most federal, state, and local taxes. In 1977 this indirect subsidy (revenue loss) totalled almost $300 million.The major criticisms of changing the tax status of these resal...
Assessment of 100-Percent Penalties against Responsible Corporate Officials for Willful Nonpayment of Taxes Withheld from Employees' Wages and Certain Excise Taxes
GGD-77-49: Published: May 3, 1977. Publicly Released: May 3, 1977.
A survey was conducted of the Internal Revenue Service's (IRS) policies, procedures, and practices in assessing 100-percent penalties against responsible officials of corporations for willful nonpayment of taxes witheld from employees' wages and certain excise taxes. Sixty-one recommended penalty assessments involving 33 corporate cases handled by the Chicago District Office were reviewed, as well...