The Internal Revenue Service has released the first update in five years to its estimates of the tax gap and found that the effort to reduce the amount of unpaid taxes owed by taxpayers has essentially not worked.
The tax gap is defined by the IRS as the amount of tax liability faced by taxpayers that is not paid on time. The new tax gap estimates, based on data for tax year 2006, indicates that the nation’s compliance rate is essentially unchanged from the last review from five years ago, which covered tax year 2001.
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