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 2007-12-19 monographic deposited born digital 50 p. GA 1.13:GAO-08-99 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-99 P0b002ee1803a54f8 f:d0899 DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-08-99 machine generated eng fdlp REPORT GAOREPORTS-GAO-08-99 GAO-08-99 Auditing standards Data collection Data integrity Federal taxes Financial institutions Noncompliance Program evaluation Reporting requirements Tax administration Tax evasion Tax law Tax return audits Tax returns Tax violations Taxes Withholding taxes Waste, fraud, and abuse IRS Qualified Intermediary program Other Written Product A79128 U.S. source income flows to recipients offshore through foreign financial institutions and U.S. withholding agents. The Internal Revenue Service (IRS) established the Qualified Intermediary (QI) program to improve tax withholding and reporting on such income. QIs are foreign financial institutions that contract with IRS to withhold and report U.S. tax. GAO was asked to (1) describe program features, (2) assess whether weaknesses exist in the U.S. withholding system for U.S. source income, and (3) identify any weaknesses in QI external reviews and IRS's use of program data. GAO interviewed agency officials and private practitioners and reviewed the latest IRS data on U.S. source income flowing offshore. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-99/html/GAOREPORTS-GAO-08-99.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-99/pdf/GAOREPORTS-GAO-08-99.pdf GAO-08-99 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-99 Other Written Product GAO-08-99; Tax Compliance: Qualified Intermediary Program Provides Some Assurance That Taxes on Foreign Investors Are Withheld and Reported, but Can Be Improved; Auditing standards Data collection Data integrity Federal taxes Financial institutions Noncompliance Program evaluation Reporting requirements Tax administration Tax evasion Tax law Tax return audits Tax returns Tax violations Taxes Withholding taxes Waste, fraud, and abuse IRS Qualified Intermediary program