Reporting requirements (41 - 50 of 53 items)
Tax Administration: Benefits of a Corporate Document Matching Program Exceed the Costs
GGD-91-118: Published: Sep 27, 1991. Publicly Released: Oct 3, 1991.
Pursuant to a congressional request, GAO analyzed issues on the feasibility of an Internal Revenue Service (IRS) document matching program for payments to corporations, focusing on: (1) what legislative actions Congress needs to take; and (2) how IRS can reduce the program's burden on the business community.GAO believes that Congress: (1) and IRS could reduce the burden of a corporate matching sys...
IRS Needs to Implement a Corporate Document Matching Program
T-GGD-91-40: Published: Jun 10, 1991. Publicly Released: Jun 10, 1991.
GAO discussed the feasibility of the Internal Revenue Service (IRS) instituting a document matching program for investment-type income earned by corporations, focusing on: (1) the benefits and costs of such a program; (2) administrative issues; and (3) potential burdens on businesses that file information returns. GAO noted that: (1) IRS data showed that corporate compliance with the tax laws sign...
Tax Administration: Expanded Reporting on Seller-Financed Mortgages Can Spur Tax Compliance
GGD-91-38: Published: Mar 29, 1991. Publicly Released: May 6, 1991.
Pursuant to a congressional request to assist the Internal Revenue Service (IRS) in increasing taxpayer compliance, GAO reviewed buyers' and sellers' reporting of interest payments made or received under seller-financed mortgages (SFM).GAO found that, according to an IRS study: (1) some taxpayers failed to correctly report SFM interest paid or received; (2) in one service area, IRS enforcement eff...
Tax Administration: Profiles of Major Components of the Tax Gap
GGD-90-53BR: Published: Apr 4, 1990. Publicly Released: Apr 19, 1990.
Pursuant to a congressional request, GAO assessed the Internal Revenue Service's (IRS) gross tax gap estimates for 1987.GAO found that: (1) for 1987, IRS estimated the tax gap to be $84.9 billion; (2) sole proprietors underpaid 23 percent of their tax liability, which reflected both unreported income and overstated business reductions; (3) informal suppliers failed to report $7.7 billion in income...
Tax Administration: Missing Independent Contractors' Information Returns Not Always Detected
GGD-89-110: Published: Sep 8, 1989. Publicly Released: Oct 12, 1989.
Pursuant to a congressional request, GAO reviewed whether Internal Revenue Service (IRS) examinations effectively identified businesses that failed to file information returns for payments made to independent contractors.GAO found that: (1) IRS examinations of business tax returns did not effectively identify businesses that failed to file required information returns on contractor payments; (2) r...
Tax Administration: State and Local Compliance With IRS' Information Reporting Requirements
GGD-89-63: Published: May 4, 1989. Publicly Released: May 22, 1989.
In response to a congressional request, GAO reviewed state and local governments' compliance with Internal Revenue Service (IRS) reporting requirements for payments made to independent contractors.GAO found that: (1) most state and local governments' policies and procedures were not in full compliance with IRS requirements because they did not fully understand the requirements; (2) although the go...
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...
Tax Administration: Tip Income Reporting Can Be Increased
GGD-86-119: Published: Sep 30, 1986. Publicly Released: Oct 14, 1986.
In response to a congressional request, GAO reviewed the Internal Revenue Service's (IRS) efforts to improve tip income reporting and the impact of the Tax Equity and Fiscal Responsibility Act's (TEFRA) tip income reporting requirements on both the food and beverage industry and tip income reporting.GAO found that: (1) of the four IRS regions it visited, two were more active and successful in purs...
Data Quality: IRS' Actions To Improve the Accuracy of Non-Wage Income Data Are Vital
IMTEC-86-17: Published: Apr 21, 1986. Publicly Released: Apr 21, 1986.
Pursuant to a congressional request, GAO reviewed the Internal Revenue Service's (IRS) Information Returns Program (IRP) which monitors the accuracy of interest and dividend information that banks and other payers submit on computer tapes and disks.GAO noted that, for tax year 1983: (1) IRS manual and automated controls were inadequate to ensure accurate coding or posting of interest and dividend...
124179: May 16, 1984
A speech was given to the Washington Chapter of the National Association of Accountants on the Internal Revenue Service's (IRS) efforts to combat taxpayer noncompliance. The Tax Equity and Fiscal Responsibility Act (TEFRA) has attempted to solve some problems of taxpayer noncompliance by expanding and improving information reporting requirements and granting special enforcement authority to IRS. P...