Accession Number : ADA138476

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

Corporate Author : GENERAL ACCOUNTING OFFICE WASHINGTON DC GENERAL GOVERNMENT DIV

PDF Url : ADA138476

Report Date : 21 Nov 1983

Pagination or Media Count : 73

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 GAO's recommendations and outlined actions to implement them. (Author)

Descriptors :   *Financial management, *Economic analysis, *Management planning and control, *Taxes, Auditing, Income, Money, Accountability, Deposits, Government procurement, Revenue sharing, Profits, Planning programming budgeting

Subject Categories : Administration and Management
      Economics and Cost Analysis

Distribution Statement : APPROVED FOR PUBLIC RELEASE