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Tax Policy and Administration (101 - 110 of 1,532 items) in Custom Date Range
2012 Tax Filing: IRS Faces Challenges Providing Service to Taxpayers and Could Collect Balances Due More Effectively
GAO-13-156: Published: Dec 18, 2012. Publicly Released: Jan 17, 2013.
While there have been efficiency gains and efforts to improve service, the Internal Revenue Service (IRS) faced challenges providing telephone service and responding to correspondence, continuing trends experienced in recent years. In 2012, 82 percent of individual taxpayers filed their returns electronically (e-filed), reducing IRS's processing costs. IRS also increased calls answered using autom...
Tax Expenditures: Background and Evaluation Criteria and Questions
GAO-13-167SP: Published: Nov 29, 2012. Publicly Released: Jan 8, 2013.
GAO's previous work has shown that, once enacted, tax expenditures and their relative contributions toward achieving federal missions and goals are often less visible than spending programs, which are subject to more systematic review. One reason for this is that they often operate, in practice, like entitlement programs not subject to annual appropriations. Since 1994, GAO has recommended greater...
Tax Gap: IRS Could Significantly Increase Revenues by Better Targeting Enforcement Resources
GAO-13-151: Published: Dec 5, 2012. Publicly Released: Jan 4, 2013.
The Internal Revenue Service (IRS) spends most of its enforcement resources on examinations. Correspondence exams of individual tax returns, which target fewer and simpler compliance issues, are significantly less costly on average than the broader and more complex field exams. GAO estimated that the average cost (including overhead) of correspondence exams opened in 2007 and 2008 was $274, compar...
Low-Income Housing Tax Credits: Agencies Implemented Changes Enacted in 2008, but Project Data Collection Could Be Improved
GAO-13-66: Published: Dec 6, 2012. Publicly Released: Dec 6, 2012.
What GAO FoundFederal and state agencies implemented changes made in 2008 to the Low-Income Housing Tax Credit (LIHTC) program by revising program guidance and modifying plans for allocating tax credits. The Internal Revenue Service (IRS) implemented the changes made by the Housing and Economic Recovery Act of 2008 (HERA) by, among other things, issuing notices and revenue procedures. Program sta...
Identity Theft: Total Extent of Refund Fraud Using Stolen Identities is Unknown
GAO-13-132T: Published: Nov 29, 2012. Publicly Released: Nov 29, 2012.
Understanding the extent and nature of identity theft-related refund fraud is important to crafting a response to it, but Internal Revenue Service (IRS) managers recognize that they do not have a complete picture. Program officials said that one of the challenges they face in combating this type of fraud is its changing nature and how it is concealed. While perfect knowledge about cases and who is...
Financial Audit: IRS's Fiscal Years 2012 and 2011 Financial Statements
GAO-13-120: Published: Nov 9, 2012. Publicly Released: Nov 9, 2012.
In GAO's opinion, the Internal Revenue Service's (IRS) fiscal years 2012 and 2011 financial statements are fairly presented in all material respects. However, in GAO's opinion, IRS did not maintain effective internal control over financial reporting as of September 30, 2012, because of a material weakness in internal control over unpaid tax assessments. In addition, GAO found that IRS's financial...
Fiscal Year 2012 Agreed-Upon Procedures: Excise Tax Distributions to the Airport and Airway Trust Fund and the Highway Trust Fund
GAO-13-73R: Published: Nov 7, 2012. Publicly Released: Nov 7, 2012.
As requested, this correspondence discusses our findings on whether the net excise tax revenue distributed to the Airport and Airway Trust Fund (AATF) and the Highway Trust Fund (HTF) for the fiscal year ended September 30, 2012, is supported by the underlying records. The Department of Transportation's Inspector General is responsible for the sufficiency of these agreed-upon procedures to meet t...
Federal Tax Debts: Factors for Considering a Proposal to Report Tax Debts to Credit Bureaus
GAO-12-939: Published: Sep 10, 2012. Publicly Released: Oct 10, 2012.
At the end of fiscal year 2011, individuals and businesses owed a total of about $373 billion in federal unpaid tax debts--$258 billion in individual debt and $115 billion in business debt. How much of this debt would be suitable to report to credit bureaus could depend on the purpose of the reporting proposal, such as to collect more debts or simply to inform other potential creditors of the exis...
Community Reinvestment Act: Challenges in Quantifying Its Effect on Low-Income Housing Tax Credit Investment
GAO-12-869R: Published: Aug 28, 2012. Publicly Released: Sep 27, 2012.
While CRA should increase investor demand for LIHTCs, quantifying the extent of any effect of CRA on LIHTC equity contributions is difficult given data and methodological challenges. In part because of the qualitative nature of the CRA investment test, regulatory ratings cannot be systematically linked to banks' LIHTC investments. Although a bank's overall rating and the associated narrative of it...
Housing Assistance: Listing of Programs, Activities, and Tax Expenditures and Related Information (GAO-12-555SP, August 2012) an E-supplement to GAO-12-554
GAO-12-555SP: Published: Aug 16, 2012. Publicly Released: Sep 17, 2012.
This is an E-supplement to GAO-12-554. This e-supplement provides an inventory of spending programs, tax expenditures, and other activities (collectively, "activities") that federal agencies and entities use to support rental housing, homeownership, or both. For each activity, this inventory includes the following information: (1) the implementing or administering agencies or entities; (2) a brief...