Financial Audit: Examination of IRS Fiscal Year 1994 Financial StatementsDIANE Publishing, 1996 - 175 pages Presents the results of an audit on the Principal Statements of the IRS for fiscal years 1994 and 1993. Assesses IRS' internal controls and compliance with laws and regulations. Discusses the scope and severity of IRS' financial management and control problems, the adverse impact of these problems on IRS' ability to effectively carry out its mission, and IRS' actions to remedy the problems. |
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... determine from our testing of IRS ' gross and net accounts receivable estimates of over $ 69 billion and $ 35 billion , respectively , which include delinquent taxes , whether those estimates were reliable . Four , IRS continued to be ...
... determine from our testing of IRS ' gross and net accounts receivable estimates of over $ 69 billion and $ 35 billion , respectively , which include delinquent taxes , whether those estimates were reliable . Four , IRS continued to be ...
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Examination of IRS Fiscal Year 1994 Financial Statements DIANE Publishing Company. determine , the reasons for most of the differences . Therefore , we could not adequately estimate appropriate adjustments to make the statements more ...
Examination of IRS Fiscal Year 1994 Financial Statements DIANE Publishing Company. determine , the reasons for most of the differences . Therefore , we could not adequately estimate appropriate adjustments to make the statements more ...
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... determine the reasons for this difference , the full magnitude of the discrepancy remains uncertain . In addition to the difference in total revenues collected , we also found large discrepancies between information in IRS ' master ...
... determine the reasons for this difference , the full magnitude of the discrepancy remains uncertain . In addition to the difference in total revenues collected , we also found large discrepancies between information in IRS ' master ...
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... determine if IRS ' explanation that the differences was due to in - process transactions was correct . The root cause of these problems is that RACS was not designed to summarize revenue collections by type of tax . Ideally , RACS , as ...
... determine if IRS ' explanation that the differences was due to in - process transactions was correct . The root cause of these problems is that RACS was not designed to summarize revenue collections by type of tax . Ideally , RACS , as ...
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... determine the reasons for them These net differences , which span an 8 - year period , although a large portion date from 1994 , consisted of $ 661 million of increases and $ 674 million of decreases . IRS did not know and we could not ...
... determine the reasons for them These net differences , which span an 8 - year period , although a large portion date from 1994 , consisted of $ 661 million of increases and $ 674 million of decreases . IRS did not know and we could not ...
Expressions et termes fréquents
1993 Financial Statements 1993 Performance Indicators accounts receivable Action in planning activity-based cost addition amounts appropriate assessments Audit of IRS balances budget cash Commissioner Letter ENCLOSURE complete compliance computer security cost customer service detailed determine develop documentation electronic employees Ended September 30 ensure excise taxes file system Financial Audit Financial Management fiscal year 1994 Fiscal Years Ended frozen credits GAO's GAO/AIMD-94-184R IRS Corrective GPRA identified implement improve income tax increase internal controls INTERNAL REVENUE SERVICE IRS Commissioner Letter IRS Corrective Actions IRS records issues master file Notes to Principal operations Overview to Financial payments Performance Indicators Continued Principal Financial Statements problems procedures reconcile result revenue accounting REVENUE SERVICE Overview REVENUE SERVICE Supplemental seized assets service centers SERVICE Supplemental Management Service's statistical sampling Supplemental Management Information tax receivables tax returns taxpayer accounts Total transactions in process trust funds U.S. Treasury Unfunded
Fréquemment cités
Page 56 - The purpose of the Internal Revenue Service is to collect the proper amount of tax revenue at the least cost; serve the public by continually improving the quality of our products and services; and perform in a manner warranting the highest degree of public confidence in our integrity, efficiency, and fairness.
Page 85 - OMB, the statements are in addition to the financial reports used to monitor and control budgetary resources which are prepared from the same books and records. • The statements should be read with the realization that they are for a component of the US Government, a sovereign entity.
Page 5 - ... or its master files of detailed individual taxpayer records. This is because RACS did not contain detailed information by type of tax, such as individual income tax or corporate tax, and the master file cannot summarize the taxpayer information needed to support the amounts identified in RACS. As a result, IRS relied on alternative sources, such as Treasury schedules, to obtain the summary total by type of tax needed for its financial statement presentation. IRS asserts that the Treasury amounts...
Page 10 - ... tax return, for 524 transactions, or 12 percent. Because the documentation was lost, physically destroyed or, by IRS policy, not maintained, some of the transactions supporting reported financial balances could not be substantiated, impairing IRS' ability to research any discrepancies that occur. IRS is authorized to offset taxpayer refunds with certain debts due to IRS and other government agencies. Before refunds are generated, IRS policy requires that reviews be performed to determine if the...
Page 102 - They have been prepared from the books and records of the Service in accordance with the form and content for entity financial statements specified by the Office of Management and Budget (OMB) in OMB Bulletin 94-01. and the Service's accounting policies which are summarized in this note.
Page 85 - The statements should be read with the realization that they are for a component of a sovereign entity, that liabilities not covered by budgetary resources cannot be liquidated without the enactment of an appropriation, and that the payment of all liabilities other than for contracts can be abrogated by the sovereign entity.
Page 122 - Revenues and expenditures applicable to agency operations are properly recorded and accounted for to permit the preparation of accounts and reliable financial and statistical reports and to maintain accountability over the assets.
Page 106 - Section 2410 of Title 28, the revolving fund can be used to redeem real property foreclosed upon by a holder of a lien which is superior to the tax lien. Real property is redeemed when the Service pays the lienholder the amount bid at sale plus interest and certain post-sale expenses. The Service may then sell the property, reimburse the fund and apply the net proceeds to the outstanding tax obligation. The revolving fund is reimbursed from the proceeds of the sale in an amount equal to the outlay...
Page 12 - ... from face value rather than carrying a coupon rate of interest. Treasury Note A federal debt instrument with a maturity from 1 to 10 years. Treasury Bond A federal debt instrument with a maturity of more than 10 years. Trust Fund Accounts See under Account in the President's Budget Undelivered Orders The value of goods and services ordered and obligated which have not been received. This amount includes any orders for which advance payment has been made but for which delivery or performance has...
Page 13 - Claim for credit or refund of an overpayment of any tax imposed by this title in respect of which tax the taxpayer is required to file a return shall be filed by the taxpayer within 3 years from the time the return was filed or 2 years from the time the tax was paid...