IRS Up for Improvement

Paper Summary:

This paper discusses an audit performed on the IRS by the General Accounting Office and the problematic issues discovered by that audit. The paper points out that some of the issues include information security problems that include the potential for damage to both the government and taxpayers as well. The paper also breaks down the issues individually in order to determine which issues can be resolved by managerial changes.

Table of Contents
Introduction
Situation
The Issues
Governmental Proposed Solutions
Conclusion

From the Paper:

"He noted that historically, IRS reports has had significantly overstated its receivables primarily because IRS included duplicate and insufficiently supported assessments that it had recorded as part of efforts to identify and collect taxes due. Bowsher explained that while IRS may have a need to maintain such records for enforcement purposes these and many erroneous assessments were not valid receivables for financial reporting purposes and should not have been included in the reported balances. He also noted that in addition IRS' estimates of the collectibility of its receivables have been unreliable because, in addition to including invalid receivables, IRS relied solely on collection experience and did not group assessments according to their collection risk or consider the taxpayer's current ability to pay. Bowsher concluded that this unreliable information on IRS' accounts receivable has affected decisions about the impact of increased collections on the deficit, evaluation of enforcement and collection performance, determination of staffing levels, and allocation of resources."

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• Term Paper # 144345 : "Gearing Up For Price Discrimination Implementation"
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• Book Review # 108460 : "Standing Up For What is Right with Silver Rights"

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