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PAD-80-41 1 (1980-02-27)

handle is hein.gao/gaobabajz0001 and id is 1 raw text is: RESTRICTEn -N De : e the General Accouj~m (iflice exp ~ ~~ cte Generoal bY the Office of Congresion~al Relatie aproa COMPTROLLER GEN=RAL OF THE UNITED STATES RELEASED WASHINGON-. o.C. Ro! o B-197736 FEBRUARY 27, 1980 The Honorable Benjamin S. Rosenthal Chairman, Commerce, Consumer, and Monetary / Affairs Subcommittee of the Committee on Government Operations House of Representatives Dear Mr. Chairman: Subject: LRecent Developments in the Withholding Tax Syste (PAD-80-41) In your letter of November 21, 1979, you asked us to update our 1977 report Inequities in the Federal Withholding Tax System (PAD-78-5, December 2, 1977). We have collected the statistics on withholding that have become available since that report was prepared and reviewed recent Internal Revenue Service (IRS) publications on the system. We also interviewed the Treasury officials responsible for designing the with- holding tables and estimating withholding tax receipts. We have discussed the contents of this report with Treasury offi- cials, but, as you requested, we did not ask for formal com- ments on the draft. We invite your attention to the fact that this report contains recommendations to the Secretary of the Treasury on page 10. As you know, section 236 of the Legislative Reorgani- zation Act of 1970 requires the head of a Federal agency to submit a written statement on actions taken on our recommenda- tions to the House Committee on Government Operations and the Senate Committee on Governmental Affairs not later than 60 days after the date of the report. We will be in touch with your office in the near future to arrange for release of the report so the requirements of section 236 can be met. SUMMARY Our review of the current withholding system indicates that Treasury and IRS have made efforts to educate employers ;J.' and employees about the system and that the withholding table § themselves are more accurate than in previous years. Nonethe- less, the results of this withholding system--overwithholding for 80 to 90 percent of the taxpayers subject to withholding-- (972252) 111891

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