ABSTRACT

Agreed-Upon Procedures: FY 2019 Excise Tax Distributions to the Airport and Airway and Highway Trust Funds   [open pdf - 289KB]

From the Document: "We performed the procedures described in the enclosures to this report on fiscal year 2019 net excise tax distributions to the Airport and Airway Trust Fund (AATF) and the Highway Trust Fund (HTF), with which you agreed. The Internal Revenue Service (IRS) is responsible for certifying quarterly net excise tax collections to be distributed to the AATF and the HTF. The Department of the Treasury's Office of Tax Analysis (OTA) is responsible for developing reasonable estimates of net excise tax collections to be distributed to the AATF and the HTF. These IRS certifications and OTA estimates are the bases of the net excise tax distributions to the AATF and the HTF. The sufficiency of these procedures is solely the responsibility of the Office of Inspector General of the Department of Transportation. We performed these procedures solely to assist your office in ascertaining whether the net excise tax revenue distributed to the AATF and the HTF for the fiscal year ended September 30, 2019, is supported by underlying records. We make no representation regarding the sufficiency of the procedures described in the report either for the purpose for which this report has been requested or for any other purpose."

Report Number:
GAO-20-138R
Publisher:
Date:
2019-11-07
Copyright:
Public Domain
Retrieved From:
Government Accountability Office: http://www.gao.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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