Accession Number:

ADA138476

Title:

Expediting Tax Deposits Can Increase the Government's Interest Earnings.

Descriptive Note:

Corporate Author:

GENERAL ACCOUNTING OFFICE WASHINGTON DC GENERAL GOVERNMENT DIV

Personal Author(s):

Report Date:

1983-11-21

Pagination or Media Count:

73.0

Abstract:

Because of the Congress continuing interest in improving the cash management practices of Federal agencies, GAO reviewed Treasury Department and Internal Revenue Services IRS procedures for depositing tax receipts. GAO found that, while Treasury and IRS have made significant progress, further opportunities exist for increasing interest earnings. --Greater use could be made of the tax deposit services provided by financial institutions. --Deposits by IRS field offices could be accelerated. --IRS check sorting could enable financial depositaries to make tax receipts available to the Government sooner. IRS generally agreed with GAOs recommendations and outlined actions to implement them. Author

Subject Categories:

  • Administration and Management
  • Economics and Cost Analysis

Distribution Statement:

APPROVED FOR PUBLIC RELEASE