2019’s tax gap of $600 billion could rise to $7 trillion this decade if unaddressed, Treasury says

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To ensure that taxes are not going uncollected, the Treasury Department announced on Thursday new measures to strengthen Internal Revenue Service enforcement. It estimated that its new plans will generate $700 billion over the next decade and help close the tax gap between what taxpayers owe and what they actually pay.

Treasury released a report on Thursday that found the tax gap totaled nearly $600 billion in 2019, and if left unaddressed, it could rise to $7 trillion over the course of the next decade, implying the gap will grow by about $100 billion per details ⇒

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