Financial Management: Important IRS Revenue Information Is Unavailable or
Unreliable (Chapter Report, 12/21/93, GAO/AIMD-94-22).

As the nation's primary tax collector, the Internal Revenue Service
(IRS) reported about $1.1 trillion in tax revenues for fiscal year 1992.
This report discusses deficiencies and internal control weaknesses in
the systems that account for this money.  GAO identified these
shortcomings during its audit of IRS' fiscal year 1992 financial
statements.  GAO recommends that IRS (1) develop a way to capture
information on the specific taxes collected for trust funds so that the
difference between amounts assessed and amounts collected is readily
determinable and tax receipts can be distributed as required by law, (2)
determine the trust fund revenue information needs of other agencies and
provide such information, and (3) identify the information needed for
revenue reporting and related sources and develop written policies and
procedures for compiling this information.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  AIMD-94-22
     TITLE:  Financial Management: Important IRS Revenue Information Is 
             Unavailable or Unreliable
      DATE:  12/21/93
   SUBJECT:  Financial management systems
             Internal controls
             Tax administration systems
             Federal agency accounting systems
             Accounting errors
             Systems management
             Information processing operations
             Data integrity
             Accounting procedures
             Debt collection
IDENTIFIER:  TSM
             Federal Tax Deposit System
             Unemployment Insurance Trust Fund
             IRS Tax System Modernization Program
             Social Security Trust Fund
             
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