The Internal Revenue Service Administered Corporate Net Operating Losses Efficiently and Effectively; However, Financial Reporting Could Be Improved
Report Information
Date Issued
October 13, 2015
Report Number
2016-IE-R002
Report Type
Inspection / Evaluation
Joint Report
Yes
Participating OIG
Treasury Inspector General for Tax Administration
Agency Wide
No (location specific)
Questioned Costs
$0
Funds for Better Use
$0
Recommendations
The Chief Financial Officer should include as a note in other accompanying unaudited information to the financial statements the amount, net present value, and description of the corporate NOL carryforward amounts’ impact on future tax revenues.