Recovery Act

Recovery Act

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The American Recovery and Reinvestment Act of 2009 (Recovery Act) was enacted to bolster the struggling U.S. economy at an estimated cost of $787 billion, of which more than a third was in the form of tax relief to the public. This report: (1) describes the status of the Internal Revenue Service's (IRS) implementation of Recovery Act tax provisions; (2) examines whether IRS captured or planned to capture data on the use of the provisions; (3) assesses IRS's efforts to determine potential abuse of the provisions; and (4) discusses possible lessons learned for future tax administration. Charts and tables.IRS Quickly Implemented Tax Provisions, But Reporting and Enforcements Improvements are Needed Michael Brostek ... of Form 990, a€œSupplemental Information on Tax-Exempt Bonds, a€ may increase compliance over the life of bonds because government ... Accordingly, Schedule K and its instructions ask for a description of the bonda#39;s purposea€” constructing a hospital or acquiring office equipment areanbsp;...

Title:Recovery Act
Author: Michael Brostek
Publisher:DIANE Publishing - 2010-08

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