United States Government Publishing Office
publisher
pbl
distributor
dst
United States
Government Accountability Office
author
aut
Government Organization
text
government publication
eng
GAOREPORTS
Legislative Agency Publications
gao
legislative
2010-08-12
U.S. Government Printing Office
2006-06-13
monographic
deposited
born digital
51 p.
GA 1.13:GAO-06-603
https://www.govinfo.gov/app/details/GAOREPORTS-GAO-06-603
P0b002ee18039423a
f:d06603
DGPO
2010-08-12
2011-05-04
GAOREPORTS-GAO-06-603
machine generated
eng
fdlp
REPORT
GAOREPORTS-GAO-06-603
GAO-06-603
Capital gains or losses
Noncompliance
Personal income taxes
Securities
Taxpayers
Voluntary compliance
Tax gap
Other Written Product
A55461
Capital Gains Tax Gap: Requiring Brokers to Report Securities Cost Basis Would Improve Compliance if Related Challenges Are Addressed
For tax year 2001, the Internal Revenue Service (IRS) estimated a
tax gap of at least $11 billion from individual taxpayers
misreporting income from capital assets (generally those owned
for investment or personal purposes). IRS did not estimate the
portion of this gap from securities (e.g., stocks, bonds, and
mutual fund capital gains distributions). GAO was asked for
information on (1) the extent and types of noncompliance for
individual taxpayers that misreport securities capital gains, (2)
actions IRS takes to reduce the securities tax gap, and (3)
options with the potential to improve taxpayer voluntary
compliance and IRS's ability to address noncompliant taxpayers.
For estimates of noncompliance, GAO analyzed a probability sample
of examination cases for tax year 2001 from the most recent IRS
study of individual tax compliance.
https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-06-603/html/GAOREPORTS-GAO-06-603.htm
https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-06-603/pdf/GAOREPORTS-GAO-06-603.pdf
GAO-06-603
https://www.govinfo.gov/app/details/GAOREPORTS-GAO-06-603
Other Written Product
GAO-06-603; Capital Gains Tax Gap: Requiring Brokers to Report Securities Cost Basis Would Improve Compliance if Related Challenges Are Addressed;
Capital gains or losses
Noncompliance
Personal income taxes
Securities
Taxpayers
Voluntary compliance
Tax gap