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GGD-83-47 1 (1983-06-20)

handle is hein.gao/gaobabebw0001 and id is 1 raw text is: REPORT BY THE Comptroller General OF THE UN[TED STATES Legislative Change Needed To Enable IRS To Assess Taxes Voluntarily Reported By Taxpayers In Bankruptcy The Bankruptcy Reform Act provides quali- fied debtors with certain protections from creditors--including IRS, The act restricts IRS' authority in many cases to assess, collect, or recover a claim against an individ- ual or a business during bankruptcy proceed- ings. Because of this restriction, IRS must process returns from bankrupt taxpayers manually rather than through its automated processing system. During fiscal year 1982, these additional processing steps cost IRS an estimated $500,000. GAO believes that the Bankruptcy Act should be amended to allow assessment of the taxes that bankrupt taxpayers report on their returns. Allowing IRS to assess--but not collect--these taxes would enable bank- rupt taxpayers to be protected at less cost than is presently being incurred. Also, IRS needs to modify its automated collection system to assure that bankrupt taxpayers will not receive collection notices. IRS agrees with the report's conclusions and strongly supports GAO's recommenda- tions. \z j .1 zG 3 GAO/GGD-83-47 tccou JUNE 20,1983

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