Congress probes tax losses from underreported income
Four days before the tax deadline a House subcommittee heard that the IRS may lose hundreds of millions yearly due to underreported income. Investigators cited forms W2 and 1099 handling, fraud risks, and a deficient Document Matching Program, while IRS Commissioner Donald Alexander questioned the $500 million figure and manpower limits.
MENTIONED IN THIS ARTICLE
Washington
Congressional
Internal Revenue Service
House
IRS
Alexander
TRS
US Treasury
Tax officials dodge doing their own income tax
Knight News Service reports that few tax officials, including Senate Finance subcommittee chairs and Treasury leaders, do their own taxes. Senate leaders oversee the Internal Revenue Service while relying on others to handle forms and returns. Even Treasury Secretary William Simon has his taxes done in a blind trust, with advisers sending theirs out for preparation.
MENTIONED IN THIS ARTICLE
Russell Long
Senate Finance
Senate
Turns Committee
Internal Revenue Service
Knight News Service
LAS
Donald Alexander
Treasury
William Simon
Fe Waters Bie Shui
Simon
Tax Foundation
The
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