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General Government: Third-Party Information Reporting (2021-10)

Better managing fragmentation within the Internal Revenue Service could enhance third-party information reporting to increase compliance with tax laws and raise revenue by reducing the tax gap.

Year Identified: 2021
Area Number: 10
Area Type: Fragmentation, Overlap & Duplication

2 Total Action(s)

Action 1
New – Pending

The Commissioner of Internal Revenue should develop a plan and schedule to systematically evaluate the suite of information returns with a goal of improving compliance, and reducing fraud and reporting burden. The evaluation should consider factors such as filing requirement thresholds, deadlines for filing, corrections and amendment data, and the potential to consolidate similar forms and include recommendations for needed changes.

Type
Executive Branch
Last Updated
March 31, 2021
Progress:

Pending

Implementing Entity:
Internal Revenue Service
Action 2
New – Pending

The Commissioner of Internal Revenue should develop a collaborative mechanism to coordinate among the internal stakeholders who are responsible for the intake, processing, and use of information returns, as well as to improve outreach to external stakeholders in relation to information returns.

Type
Executive Branch
Last Updated
March 31, 2021
Progress:

Pending

Implementing Entity:
Internal Revenue Service
GAO Contacts