Puerto Rico:
Potential Federal Income Tax Revenues Resulting From Statehood
GGD-98-166R: Published: Jul 8, 1998. Publicly Released: Jul 8, 1998.
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Pursuant to a congressional request, GAO estimated the amount of federal income taxes that individuals and corporations in Puerto Rico would pay if the: (1) termination of the Puerto Rican economic activity credit and the change in political status occurred today; and (2) amount and distribution of individual and corporate incomes in Puerto Rico remain similar to what they have been in recent years.
GAO noted that: (1) given the uncertainty over income growth in Puerto Rico after both the phaseout of the economic activity credit and the potential change to statehood, it is difficult to project the impact statehood would have on future combined federal individual and corporate income tax revenues; (2) it roughly estimated the impact that statehood would have on individual income tax revenue if personal incomes remain similar to what they have been in recent years; (3) there is more uncertainty over the impact of statehood on corporate tax revenue because, even if corporate incomes remain close to their current levels, the revenue impact would be sensitive to decisions that corporations made regarding their organizational form and repatriation of profits; and (4) while GAO is able to roughly illustrate the extent to which the corporate tax revenue impact could vary, depending on the decisions corporations make, GAO has no basis for predicting what the actual corporate decisions would be.
Oct 19, 2020
Tax Administration:
Opportunities Exist to Improve Oversight of Hospitals' Tax-Exempt StatusGAO-20-679: Published: Sep 17, 2020. Publicly Released: Oct 19, 2020.
Sep 23, 2020
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Taxpayer Service:
IRS Could Improve the Taxpayer Experience by Using Better Service Performance MeasuresGAO-20-656: Published: Sep 23, 2020. Publicly Released: Sep 23, 2020.
Aug 31, 2020
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Abusive Tax Schemes:
Offshore Insurance Products and Associated Compliance RisksGAO-20-589: Published: Jul 30, 2020. Publicly Released: Aug 31, 2020.
Jun 29, 2020
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Taxpayer Compliance:
More Income Reporting Needed for Taxpayers Working through Online PlatformsGAO-20-366: Published: May 28, 2020. Publicly Released: Jun 29, 2020.
Jun 16, 2020
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Tax Exempt Organizations:
IRS Increasingly Uses Data in Examination Selection, but Could Further Improve Selection ProcessesGAO-20-454: Published: Jun 16, 2020. Publicly Released: Jun 16, 2020.
May 1, 2020
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Management Report:
Improvements Are Needed to Enhance the Internal Revenue Service's Internal Control over Financial ReportingGAO-20-480R: Published: May 1, 2020. Publicly Released: May 1, 2020.
Apr 30, 2020
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Priority Open Recommendations:
Internal Revenue ServiceGAO-20-548PR: Published: Apr 23, 2020. Publicly Released: Apr 30, 2020.
Apr 1, 2020
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Payment Integrity:
Selected Agencies Should Improve Efforts to Evaluate Effectiveness of Corrective Actions to Reduce Improper PaymentsGAO-20-336: Published: Apr 1, 2020. Publicly Released: Apr 1, 2020.
Mar 2, 2020
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Identity Theft:
IRS Needs to Better Assess the Risks of Refund Fraud on Business-Related ReturnsGAO-20-174: Published: Jan 30, 2020. Publicly Released: Mar 2, 2020.
Feb 26, 2020
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Individual Retirement Accounts:
IRS Could Better Inform Taxpayers about and Detect Noncompliance Related to Unconventional AssetsGAO-20-210: Published: Jan 27, 2020. Publicly Released: Feb 26, 2020.
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