Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

New GAO Reports: SEC's Internal Controls, Federal Oil and Gas Resource Management, Taxpayers Rely on Tax Software

  • Management Report: Improvements Needed in SEC’s Internal Controls and Accounting Procedures, GAO-09-376R, April 2, 2009
  • Oil and Gas Management: Federal Oil and Gas Resource Management and Revenue Collection In Need of Stronger Oversight and Comprehensive Reassessment, GAO-09-556T, April 2, 2009
  • Tax Administration: Many Taxpayers Rely on Tax Software and IRS Needs to Assess Associated Risks, GAO-09-297, February 25, 2009: “IRS has not conducted an assessment to determine whether taxpayers’ use of
    tax software poses any risks to tax administration. Risks include that IRS may be missing opportunities to systemically identify areas to improve software guidance and enhance information security. IRS officials said the likely benefits of an assessment would not warrant the costs but have not determined either the benefits or costs of such an assessment. Moreover, IRS has also said that it is in the agency’s best interest to ensure that taxpayers can rely on commercial software to make electronic filing accurate, easy, and efficient. Further, if even small improvements in the accuracy of tax returns could be made by clarifying the guidance in tax software, the effect on revenue could be substantial. Without a risk assessment, IRS does not know whether its existing oversight of the tax software industry is sufficient or needs to be expanded.

Sorry, comments are closed for this post.