GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
Generally, federal agencies are only allowed to spend the money that Congress has given them. During a government shutdown, agencies may not have funds—raising questions about whether work may continue.
Some criminal and terrorist organizations use trade-based money laundering to disguise illicit proceeds and fund their operations. These kinds of schemes can rely on misrepresenting the price, quantity, or type of goods in trade transactions.
Some criminal groups use a process called trade-based money laundering to launder their illicit money. These schemes can include things like falsely describing goods and services in trade transactions.
Banks are required to report suspicious financial transactions to the Treasury Department.
The Food and Drug Administration charges tobacco manufacturers a fee to fund regulation activities (such as educating the public about risks associated with tobacco). These fees, which are based on companies’ market shares, were about $635 million in FY 2017.
A 2009 law created a tax disparity among different types of tobacco products, with cigarettes, roll-your-own tobacco, and small cigars taxed at one rate and pipe tobacco and some large cigars taxed at lower rates.
To encourage companies to maintain and expand operations in the United States, the Foreign-Trade Zones program offers a range of benefits, such as the possible reduction or elimination of customs duties on certain imported goods.
What GAO Found Large federal excise tax disparities among smoking tobacco products, which resulted from the Children's Health Insurance Program Reauthorization Act (CHIPRA) of 2009, created opportunities for tax avoidance and led to significant market shifts toward lower-taxed products by manufacturers,...
What GAO Found From fiscal years 2003 through 2013, Department of Homeland Security (DHS) components that participate in the Treasury Forfeiture Fund—U.S. Immigration and Customs Enforcement (ICE), the U.S. Secret Service (USSS), U.S. Customs and Border Protection (CBP), and the U.S.