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.
Every year we audit IRS's financial statements.
During our FY 2020 audit, we found that corrective actions were not complete for 114 recommendations we made to address previously reported deficiencies in IRS's financial reporting and related information systems.
The Airport and Airway and the Highway Trust Funds are the main funding sources for federal aviation and ground transportation programs. User taxes on airline tickets, aviation fuel, tires, and gasoline are their primary source of funding.
The Internal Revenue Service must keep its computer systems secure to protect financial and taxpayer data. Every year since FY 1997, we have assessed whether the IRS had effective controls in place to safeguard this information.
During our FY 2019 financial statement audit of the IRS, we found 4 new internal control issues.
For example, when taxpayers’ payments go to IRS, employees prepare the deposits and couriers take them to the bank. When the couriers were unable to work, managers transported the money.
Improper payments—those made by the federal government to the wrong person, in the wrong amount, or for the wrong reason—are a significant problem. In fiscal year 2019, government-wide improper payment estimates totaled about $175 billion.
In 2019, IRS collected over $3 trillion in taxes. This money equates to about 95% of the gross revenue of the United States and helps fund the country. Accordingly, IRS’s financial management is important to Congress and taxpayers.
What GAO Found In GAO's opinion, the Internal Revenue Service's (IRS) fiscal years 2018 and 2017 financial statements are fairly presented in all material respects, and although controls could be improved, IRS maintained, in all material respects, effective internal control over financial reporting as...