Tax Administration: Benefits of a Corporate Document Matching Program Exceed the Costs
GGD-91-118
Published: Sep 27, 1991. Publicly Released: Oct 03, 1991.
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Highlights
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.
Recommendations
Matter for Congressional Consideration
| Matter | Status | Comments |
|---|---|---|
| Congress should pass legislation that would require that payments to corporations be reported on information returns and to appropriate the necessary funds for IRS to implement a computer-matching program to identify noncompliance. The program could be phased in to reduce the burden on the business community. | IRS is not pursuing this information reporting on payments to corporations for investment-type income, nor is Congress considering this recommendation any more. |
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CorporationsFederal taxesIncome taxesInvestmentsReporting requirementsTax administrationTax administration systemsTax returnsTaxpayersPrivate sector