The Government Accountability
Office (GAO) continues to express criticism of the Internal Revenue Service
(IRS), noting it has had to put processes in place to make up for its ‘serious
internal control and financial management systems deficiencies’.
The ‘IRS continues to lack accurate, useful and timely financial information
and sound controls with which to make informed decisions day-to-day to ensure
ongoing accountability,’ states the GAO annual IRS audit opinion, released last
Because of IRS’s multiple information-systems problems, the GAO is concerned
about its future ability to determine whether IRS’s financial statements are
fairly stated, CFO.com reports.
Although GAO did praise IRS for making ‘significant’ improvement, it noted
repeatedly IRS’s progress would continue to be hampered by the legacy of its
Drastically fewer offices for HMRC in the hope to reduce their running costs
An 80% increase in additional revenue for HMRC coincides with a crackdown on income tax avoidance
Laurence Field, the head of tax at national audit, tax and advisory firm Crowe Clark Whitehill outlines the 6 'unexpected items' regarding HMRC's Making Tax Digital plans
Companies must report on their complex financial structures including offshore accounts and notify HMRC