Definitions – Data dump

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Image source: By Ondřej Martin Mach (Ekolist) [CC BY-SA 3.0 http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

Image source: By Ondřej Martin Mach (Ekolist) [CC BY-SA 3.0 http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

The IRS has been publishing information about the collection of revenue since 1863. And yes, you can read the one from that year online if you like, even though a few pages in the middle are upside down. The “Annual Report” is now called the IRS Data Book, and continues to present an annual overview of the operations of the IRS.

Here are a few questions based on information in this year’s Data Book (for fiscal year ended September 30, 2014).

1. Do you think fiscal year 2014 individual income tax withheld and tax payments, combined, totaled or ?

Per the Data Book

 

2. Do you think the IRS processed or of federal tax returns and supplemental documents during fiscal year 2014?

Per the Data Book

 

3. How many tax returns do you think the IRS audited during calendar year 2013?

Per the Data Book

 

4. Of returns filed in calendar year 2013, do you think the IRS audited a higher percentage of or returns?

Per the Data Book

 

5. Of fiscal year 2014 audits, do you think the IRS conducted the majority via or ?

Per the Data Book

 

6. Do you think the IRS processed or of third party information returns during fiscal year 2014?

Per the Data Book

 

7. How many tax court cases do you think the IRS received during fiscal year 2014 involving a taxpayer contesting an IRS determination of additional tax due?

Per the Data Book

 

8. Do you think the IRS’s actual expenditures for fiscal year 2014 were or than in fiscal year 2013?

Per the Data Book

 

9. Do you think the total cost of collecting $100 in fiscal year 2014 was or than in fiscal year 2013?

Per the Data Book

 

10. Do you think the IRS had or employees in fiscal year 2014 than in fiscal year 2013?

Per the Data Book

Bonus Question. The Office of Commissioner of Internal Revenue was created by an act of congress on July 1, 1862. What was the name of the first commissioner?

Per the Data Book

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Note: Taxing Lessons provides a summarized version of sometimes lengthy court decisions. The full case may include facts and issues not presented here. Please use the link provided to read the entire case.

This information should not be considered legal, investment or tax advice. Taxing Lessons and Top Drawer Ink Corp. do not provide legal, investment or tax advice. Always consult your legal, investment and/or tax advisor regarding your personal situation.

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Right answer!
Individual income tax withheld and tax payments, combined, totaled over $1.6 trillion before refunds.
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The IRS processed nearly 240 million federal tax returns and supplemental documents during fiscal year 2014.
The IRS audited a total of almost 1.4 million tax returns, approximately 0.7 percent of all returns filed in calendar year 2013.
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The IRS audited 0.9 percent of all individual income tax returns filed in calendar year 2013, and 1.3 percent of corporation income tax returns (excluding S corporation returns).
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The IRS conducted the majority of fiscal year 2014 audits, 71 percent, via correspondence. The remaining 29 percent were conducted in the field.
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The IRS received almost 2.3 billion third-party information returns in fiscal year 2014, over 85.7 percent of which were filed electronically.
In fiscal year 2014, General Counsel received 31,244 tax court cases involving a taxpayer contesting an IRS determination that he or she owed additional tax. During the fiscal year, counsel closed 30,606 cases involving over $6.2 billion in disputed taxes and penalties.
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IRS’s actual expenditures for fiscal year 2014 were $11.6 billion for overall operations, down slightly from fiscal year 2013. Since 2010, IRS’s expenditures in constant dollars have fallen by 12.6 percent.
Taxpayer services funding, which includes processing for tax returns and related documents, and assistance to taxpayers filing returns and paying taxes due, accounted for $2.3 billion.

Enforcement funding, which includes the examination of tax returns, collection of balances due, and administrative and judicial settlement of taxpayer appeals of examination findings, represented almost $5.0 billion. This funding also provided resources to strengthen enforcement aimed at reducing invalid claims and erroneous filings associated with the Earned Income Tax Credit program.

Operations support provides administrative services, policy management, and IRS-wide support. This appropriation also funds staffing, equipment, and related costs used to manage, maintain, and operate critical information systems supporting tax administration. The IRS spent over $4.0 billion in operations support in fiscal year 2014.

The balance of IRS’s expenditures, over $0.25 billion, was spent on capital asset acquisition of information technology systems.

Right answer!
Sorry, wrong answer :(
The total cost of collecting $100 decreased to $0.38 in fiscal year 2014, down from $0.41 for the previous year.
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The IRS closed fiscal year 2014 with 78,121 employees, 17.2 percent less than in fiscal year 2010, and a decrease of 6.6 percent from fiscal year 2013.
George S. Boutwell, Massachusetts, Jul. 17, 1862 to Mar. 4, 1863.
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