At the time, there were reports of inefficiency and waste in the Bureau and allegations that the method of making refunds created the opportunity for fraud.
The Committee found that there appeared to be no system, no adherence to principle, and a total absence of competent supervision in the determination of oil property values.
At the time, Mellon was the principal owner of Gulf Oil, which had benefited from rulings specifically criticized by Couzens.
The select committee emphasized As originally conceived by the House, a temporary "Joint Commission on Taxation" was to be created to "investigate and report upon the operation, effects, and administration of the Federal system of income and other internal revenue taxes and upon any proposals or measures which in the judgment of the Commission may be employed to simplify or improve the operation or administration of such systems of taxes.....".
In the Revenue Act of 1928, the Joint Committee's authority was extended to the review of all refunds or credits of any income, war-profits, excess-profits, or estate or gift tax in excess of $75,000.
Other than that, the Joint Committee's responsibilities under the Internal Revenue Code have remained essentially unchanged since 1928.