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Despite Spending Nearly $380 Million, the Internal Revenue Service Is Still Not Prepared to Enforce Compliance With the Foreign Account Tax Compliance Act

Report Information

Date Issued
Report Number
2018-30-040
Report Type
Audit
Joint Report
Yes
Participating OIG
Treasury Inspector General for Tax Administration
Agency Wide
Yes (agency-wide)
Questioned Costs
$0
Funds for Better Use
$0
View Report

Recommendations

The Commissioner, Large Business and International Division, should initiate compliance efforts to compare Form 1099 filings with valid TINs to corresponding Form 8938 filings to identify nonfilers or mismatches in reporting of foreign financial assets.
Recommendation rejected by IRS