Treasury Department

@USTreasury ↗

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Last Checked June 17, 2021

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Wed Apr 28 18:07:01 +0000 2021

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Treasury Department @USTreasury

Left unaddressed, this tax gap will total about $7 trillion over the course of the next decade. This massive gap in revenue means policymakers must choose between higher taxes elsewhere in the tax system, lower spending on fiscal priorities, or rising budget deficits. — PolitiTweet.org

Posted April 28, 2021

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Treasury Department @USTreasury

A recent study found that the top 1% failed to report 20% of their income and failed to pay nearly $175 billion in taxes owed annually. Lower levels of compliance not only impact tax progressivity, they can lower tax revenue and deteriorate our nation’s fiscal position. — PolitiTweet.org

Posted April 28, 2021

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Treasury Department @USTreasury

A series of proposals in the American Families Plan that overhaul tax administration and provide @IRSnews the resources and information it needs to address tax evasion. All told, these reforms will generate an additional $700 billion in tax revenue over the course of a decade. — PolitiTweet.org

Posted April 28, 2021