The tax gap, which is the amount Americans owe versus what they pay, is estimated by the IRS to be about $458 billion annually. According to GAO, the "IRS previously … READ MORE
Department of the Treasury
TREASURY OIG: Treasury Was Not in Compliance with IPERA for Fiscal Year 2016 Due to High Improper Payment Rate for the Earned Income Tax Credit Program
Treasury was not in compliance with IPERA for fiscal year 2015 due to IRS not reporting an overall improper payment rate of less than 10 percent for the Earned … READ MORE
TREASURY OIG: Banks Inaccurately Reported Qualified Small Business Lending Gains
OIG found that 71 percent of Small Business Lending Fund (SBLF) participants that we tested made errors in reporting qualified small business lending (QSBL) for the quarter ended September 30, 2013. The … READ MORE
TREASURY OIG: Treasury Was Not in Compliance with IPERA for Fiscal Year 2015 Due to High Improper Payment Rate for the Earned Income Tax Credit Program
Treasury was not in compliance with IPERA for fiscal year 2015 due to IRS not reporting an overall improper payment rate of less than 10 percent for the Earned … READ MORE
GAO: Corporate Income Tax: Most Large Profitable U.S. Corporations Paid Tax but Effective Tax Rates Differed Significantly from the Statutory Rate
In each year from 2006 to 2012, at least two-thirds of all active corporations had no federal income tax liability. Among large corporations (generally those with at least $10 million … READ MORE
TREASURY OIG: FinCEN Continues to Face Challenges with Money Services Businesses
This report presents the result of our audit of the Financial Crimes Enforcement Network (FinCEN) activities related to money services businesses (MSBs). FinCEN has responsibility for administering the Bank … READ MORE