SECRETARY OF THE TREASURY ROLE

Count No. Recommendation Per Treasury and OMB Per GAO
51 07-5 The Director of OMB should
direct the Controller of OMB’s Office of Federal Financial Management, in coordination with Treasury’s Fiscal Assistant Secretary, to devel[r]

Abatements may be allowed for qualifying corporations claiming net operating losses which create a credit when carried back and applied against a prior year’s tax liability. Additionally, abatements can correct previous assessments from enforcement programs, eliminate taxes discharged in bankrupt[r]

During the last 4 fiscal years, total federal debt has increased by $5,788 billion, or 64 percent, from $8,993 billion as of September 30, 2007, to $14,781 billion as of September 30, 2011. The rapid growth in federal debt during this period presented debt management c[r]

information, may also contain misstatements resulting from these deficiencies. Some of these material weaknesses have also allowed inappropriate refunds to be paid, reduced IRS’ effectiveness in its enforcement of the tax code, and resulted in errors in taxpayer accounts and[r]

x Work with preparers to design a program that enables the majority of taxpayers to feel confident that their preparers are competent to prepare their taxes and that IRS will punish preparers when they perform negligently or recklessly. (Ongoing)
x Advocate enforcement of e[r]

changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
We did not test compliance with all laws and regulations applicable to BPD. We limited our tests of compliance to a selected provision of law that has a direct and[r]

The President’s Budget includes appropriations for EITC, Child Tax Credit, HCTC, interest relating to taxpayer refunds, informant payments and additional refundable tax credits relating to the Recovery Act totaling $112.4 billion. The majority of the appropriati[r]

The principal work of the modern Department of the Interior is performed by eight bureaus. Perhaps the best way to understand the crucial role the De- partment of the Interior plays in administering the nation’s reso[r]

• Hold a sixth annual EITC Awareness Day to increase eligible taxpayers’ awareness, stakeholder partnerships, and media coverage.
• Implement the requirement that EITC paid preparers attach Form 8867, Paid Preparer’s Earned Income Credit Checklist , to their clients’ returns to encour[r]

So what are the areas where shareholder power can work as well as, or better than, regulation to maintain high standards of corporate governance?
Certainly one of these must be board structure. It is quite rare in the UK for shareholders to promote individuals as candid[r]

34
Rate of Filing Compliance
The rate of filing compliance is the percentage of individual returns that are filed timely for a given tax year. This rate for individual taxpayers is computed by dividing the estimated number of returns filed on ti[r]

[r]

reconciliation problems. Most of these agencies suggested that Treasury assign dedicated agency contacts to assist them with reconciliation issues. We noted that agency auditors cited the lack of adequately trained staff at their respective agencies as one of th[r]

Acts of disloyalty during peacetime are not considered treasonous under the Constitution. Nor do acts of ESPIONAGE committed on behalf of an ally constitute treason. For example, JULIUS AND ETHEL ROSENBERG were convicted of espio- nage, in 1951, for helping the<[r]

During fiscal year 2008, Treasury continued a process for obtaining sufficient information from federal agencies to enable Treasury and OMB to adequately monitor federal agencies’ efforts to reconcile intragovernmental activity and balances with their trading partners. This inf[r]

During the last 4 fiscal years, total federal debt has increased by $5,788 billion, or 64 percent, from $8,993 billion as of September 30, 2007, to $14,781 billion as of September 30, 2011. The rapid growth in federal debt during this period presented debt management c[r]

December 2007. Federal government actions in response to both the financial market crisis and the economic downturn have added
significantly to Treasury’s borrowing needs. The fiscal year 2008 increase in total federal debt of $1,018 billion was the larg[r]

TRANG 1 GAO UNITED STATES GENERAL ACCOUNTING OFFICE Report to the Secretary of the Treasury MARCH 2001 FINANCIAL AUDIT Bureau of the Public Debt’s Fiscal Years 2000 and 1999 Schedules of[r]