Thursday, September 27, 2012
The Treasury Inspector General for Tax Administration today released A Concerted Effort Should Be Taken to Improve Federal Government Agency Tax Compliance (2012-30-094):
Federal agencies are exempt from paying Federal income taxes; however, they are not exempt from meeting their employment tax deposits and related reporting requirements. As of December 31, 2011, 70 Federal agencies with 126 delinquent tax accounts owed approximately $14 million in unpaid taxes. In addition, 18 Federal agencies had not filed or were delinquent in filing 39 employment tax returns. Federal agencies should be held to the same filing and paying standards as all American taxpayers.