GAO Report Concludes That IRS Needs to Enhance Internal Control over Financial Reporting (with Lofchie Comment)

A Government Accountability Office Report found that the IRS had internal control deficiencies that contributed to the "continuing material weakness" in internal control over unpaid tax assessments.

Lofchie Comment: The U.S. government is itself routinely deficient in ways for which private entities, if even slightly deficient, would be subject to massive penalties. It is doubtless the case that the problems that the government is trying to correct are challenging and that it is acting in good faith in trying to correct them, but that is often the case in the private sector as well.

See: GAO Report; Report Summary.