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Pursuant to a legislative requirement, GAO determined what options exist, without a legislative change, to help financial institutions provide correct names and taxpayer identification numbers (TIN) to the Internal Revenue Service (IRS).
Recommendations for Executive Action
|Internal Revenue Service||1. The Commissioner of Internal Revenue should encourage payors to obtain information from payees about name changes not reported to social security when they open new accounts and to include the names on information returns.|
|Internal Revenue Service||2. The Commissioner of Internal Revenue should expand IRS plans to correct names of primary filers on income tax returns to include secondary filers.|
|Internal Revenue Service||3. The Commissioner of Internal Revenue should tell payors when TIN are not in social security or IRS files when providing lists of incorrect TIN to payors.|