Recovery Act: IRS Quickly Implemented Tax Provisions, But Reporting and Enforcements Improvements are Needed

ISBN-10: 1437929184
ISBN-13: 9781437929188
Series: Recovery Act
Pages: 62
Language: English
Published: 2010-08
Publisher: DIANE Publishing
Author: Michael Brostek

Description

The American Recovery and Reinvestment Act of 2009 (Recovery Act) was enacted to bolster the struggling U.S. economy at an estimated cost of $787 billion, of which more than a third was in the form of tax relief to the public. This report: (1) describes the status of the Internal Revenue Service's (IRS) implementation of Recovery Act tax provisions; (2) examines whether IRS captured or planned to capture data on the use of the provisions; (3) assesses IRS's efforts to determine potential abuse of the provisions; and (4) discusses possible lessons learned for future tax administration. Charts and tables.