The Accuracy of Currency Transaction Report Data in IRS Systems Should Be Improved to Enhance Its Usefulness for Compliance Purposes

The Commissioner, Small Business/Self-Employed Division, should improve the case identification and selection process by using CTR data to systemically identify potentially noncompliant taxpayers and nonfilers.

The Commissioner, Small Business/Self-Employed Division, should continue to work with the IRS Information Technology organization to ensure the accuracy of CTR data in the Information Returns Master File. Specifically, ensure that the proper amounts are shown for CTR cash-in and cash-out transactions and accurate calendar year totals are transmitted.

The Commissioner, Small Business/Self-Employed Division, should work with the IRS Information Technology organization to develop processes to validate the reliability of the CTR data accessible to IRS employees viewing CTR data in IRS systems. These processes should include steps to ensure that all records are imported as intended.

The Commissioner, Small Business/Self-Employed Division, should work with the IRS Information Technology organization to validate the quality of CTR data accessible to IRS employees viewing CTR data in IRS systems. These processes should ensure that all useful fields are available to IRS employees using CTR records.