Information Returns
Correcting Taxpayer Identification Is Possible Without Disclosing Tax Data Gao ID: GGD-90-90 June 5, 1990Pursuant to a legislative requirement, GAO determined what options exist, without a legislative change, to help financial institutions provide correct names and taxpayer identification numbers (TIN) to the Internal Revenue Service (IRS).
GAO found that: (1) while payors were not required to obtain correct names, there were many incorrect identification numbers listed due to name mismatches in IRS or social security files; (2) IRS should encourage payors to provide more information about payee name changes; (3) IRS could reduce the number of mismatches by expanding plans to correct names on income tax returns; and (4) IRS should tell payors when there is no current record of particular TIN in IRS or social security files.
RecommendationsOur recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.
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