Two months after a senator said he would hold up Treasury appointments until the department provided a comprehensive plan to close the tax gap, the Treasury Department has issued a report titled, “A Comprehensive Strategy for Reducing the Tax Gap.”
Issued from the Treasury’s Office of Tax Policy on Sept. 26, the report describes itself as “a broad base on which to build” a plan to close the gap. Estimates put the hard-to-quantify tax gap, the difference between taxes legally owed and taxes collected, at upwards of $300 billion annually.
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