The Treasury Inspector General for Tax Administration today submitted its Semiannual Report to Congress:

It gives me great pleasure to submit this Semiannual Report to Congress summarizing the accomplishments of the TIGTA for the reporting period of October 1, 2010 through March 31, 2011. This report highlights the most notable audits, investigations, and inspections and evaluations performed by TIGTA as we have continued to work diligently to provide oversight of the IRS and protect the integrity of the Federal system of tax administration.

During this reporting period, TIGTA’s combined audit and investigative efforts has recovered, protected, and identified monetary benefits totaling $2.08 billion. Our Office of Audit has completed 33 audits and the Office of Investigations has closed 1,823 investigations over the past six months. In this time of continuing economic challenge, all Americans are being asked to do more with less. American citizens and their Government must work smarter, harder, and better, with fewer resources and greater purpose. Against this backdrop, TIGTA must redouble its efforts to promote economy, efficiency, and integrity in the administration of the Internal Revenue laws. We have never felt the need for greater commitment to our oversight of the IRS, nor has it ever been more important to improve compliance and reduce the Tax Gap – the $345 billion difference between what taxpayers owe and what they pay timely. Underreporting of taxes constitutes over 70% of the Tax Gap.