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IRS chief says U.S. annual ‘tax gap’ may exceed $1 trillion

IRS chief says U.S. annual ‘tax gap’ may exceed $1 trillion



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  1. tldr; The US Internal Revenue Service (IRS) needs more and consistent funding to help close a “tax gap” that is leaving perhaps more than $1 trillion in legally owed taxes uncollected every year, IRS Commissioner Charles Rettig said on Tuesday. He added that the agency is “outgunned” by increasingly sophisticated tax avoidance schemes and budget cuts have left it with about 17,000 fewer revenue enforcement staff than it had a decade ago.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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