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GGD-84-14 1 (1983-11-21)

handle is hein.gao/gaobabeio0001 and id is 1 raw text is: 




BY 7  U S GENWRA_ ACCOUN iNG OFF CL




Report To The

Commissioner Of Internal Revenue


Expediting Tax Deposits Can Increase The

Government's Interest Earnings


Because of the Congress continuing inter-
est in improving the cash management
practices of Federal agencies GAO re-
viewed Treasury Department and Internal
Revenue Service (IRS) procedures for de-
positing tax receipts GAO found that, while
Treasury and IRS have made significant
progress, further opportunities exist for in-
creasing 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 finan-
    cial depositaries to make tax receipts
    available to the Government sooner

IRS generally agreed with GAO s recom-
mendations and outlined actions to imple-
ment them


01


  GAO/GGD-84-14
NOVEMBER 21 1983


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