Saturday, January 7, 2012

Latest from Yahoo: Tax gap: IRS comes up $385 billion short

"The IRS has noted that compliance among taxpayers is highest when there is third-party reporting of income. So, the basic W2 working Joe who has money withheld automatically from his paycheck typically has a very high compliance rate." -Jeanne Sahadi from www.CNNmoney.com wrote yesterday in this article:

Tax gap: IRS comes up $385 billion short

I found this article interesting , with over 140 million returns filed a each year, and only 22,184 employees working in IRS enforcement. They will have a difficult time closing the tax gap on their own.

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