Accession Number PB2013-107079
Title Offshore Tax Evasion: IRS Has Collected Billions of Dollars, but May be Missing Continued Evasion.
Publication Date Mar 2013
Media Count 72p
Personal Author N/A
Abstract Tax evasion by individuals with unreported offshore financial accounts was estimated by one IRS commissioner to be several tens of billions of dollars, but no precise figure exists. IRS has operated four offshore programs since 2003 that offered incentives for taxpayers to disclose their offshore accounts and pay delinquent taxes, interest, and penalties. GAO was asked to review IRS's second offshore program, the 2009 OVDP. This report (1) describes the nature of the noncompliance of 2009 OVDP participants, (2) determines the extent IRS used the 2009 OVDP to prevent noncompliance, and (3) assesses IRSs efforts to detect taxpayers trying to circumvent taxes, interests, and penalties that would otherwise be owed. To address these objectives, GAO analyzed tax return data for all 2009 OVDP participants and exam files for a random sample of cases with penalties over $1 million; interviewed IRS Offshore officials; and developed and implemented a methodology to detect taxpayers circumventing monies owed.
Keywords Delinquency
Detection
Financial management
Internal Revenue Service(IRS)
Methodology
Offshore
Penalties
Tax evasion
Taxpayers


 
Source Agency General Accounting Office
NTIS Subject Category 96A - Domestic Commerce, Marketing, & Economics
70F - Public Administration & Government
91C - Fire Services, Law Enforcement, & Criminal Justice
Corporate Author Government Accountability Office, Washington, DC.
Document Type Technical report
Title Note N/A
NTIS Issue Number 1315
Contract Number N/A

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