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Latest IRS Tax Gap Report Reveals Where Billions Went Uncollected
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Subscribe14 OCT 2024 / IRS UPDATES
The IRS reports a gross tax gap of $696 billion for 2022, increasing by $200 billion from the period of 2014-2016 due to economic growth and shifting income sources. Despite some improvements in voluntary and net compliance rates, significant challenges persist in tax enforcement and compliance, particularly in areas of non-filing and under-reporting.
The latest IRS report for Tax Year 2022 reveals some eyebrow-raising numbers around the tax gap—the difference between what’s owed and what’s actually paid. Despite slight gains in compliance, the tax gap looms large as a persistent challenge. Let’s break...
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