Summary List Placement

While the IRS’ current official estimate of the tax gap — taxes owed but not collected — is $441 billion, the actual number could be a lot higher.

“I think it would not be outlandish to believe that the actual tax gap could approach and possibly exceed $1 trillion per year,” IRS Commissioner Charles Rettig said in a Senate Finance Committee hearing on Tuesday.

Rettig also referenced a recent study by IRS researchers and economists looking at the top 1% of taxpayers, which found that “collecting all unpaid federal income tax from this group would increase details ⇒

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