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.
The Department of Housing and Urban Development (HUD) has subsidized the development of over 23,000 properties by offering owners favorable long-term mortgage financing or rental assistance payments in exchange for owners' commitment to house low-income tenants.
Employers are required to withhold amounts from their employees' salary to cover individual federal income tax, Social Security, and Medicare taxes; match the amounts for Social Security and Medicare taxes; and deposit these amounts with the U.S. Treasury.
In 1997, 4,369 corporations earned a total of $135 million in Work Opportunity Tax Credits (WOTC). The employers who earned most of the credit were large companies with gross receipts exceeding $1 billion and engaged in nonfinancial services and retail trade.
Pursuant to a congressional request, GAO provided information on the implications of using cash balance plans for retirement income, focusing on the: (1) prevalence and features of cash balance plans; (2) factors employers considered in making a decision about whether or not to use a cash balance formula;...