GAO finds IRS financial statements fairly presented for fiscal years 2026 and 2025
The U.S. Government Accountability Office issued an audit report on the Internal Revenue Service's financial statements for fiscal years 2026 and 2025. In GAO's opinion, the statements are fairly presented in all material respects, and the IRS maintained effective internal control over financial reporting as of September 30, 2026, although GAO said internal controls could be improved.
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The IRS collected more than $5.5 trillion in taxes in fiscal year 2026, according to the report.1
The IRS paid out about $670 billion in tax refunds, credits and other payments in fiscal year 2026, the report said.1
GAO's tests of IRS compliance with selected provisions of laws, regulations, contracts and grant agreements disclosed no instances of reportable noncompliance for fiscal year 2026.1
GAO said system limitations and other deficiencies in IRS accounting for federal taxes receivable and other unpaid assessment balances continued to exist during fiscal year 2026.1
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