Treasury Department

@USTreasury ↗

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Last Checked July 9, 2021

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Thu May 20 20:08:45 +0000 2021

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Treasury Department @USTreasury

A top cause of the tax gap is insufficient resources. Budget cuts over the past decade have cut IRS capacity to address sophisticated tax evasion efforts. Over this period, audit rates for taxpayers making over $1 million in income have fallen by almost 80%. — PolitiTweet.org

Posted May 20, 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. Unpaid taxes come at a cost to American households, compliant taxpayers, and our communities. — PolitiTweet.org

Posted May 20, 2021

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Treasury Department @USTreasury

Today, we released a report on tax compliance measures to improve efficiency, raise revenue, & build a more equitable tax system. The proposal prioritizes improving taxpayer service & the experience of Americans as they navigate the tax system, as well as stopping tax evasion. — PolitiTweet.org

Posted May 20, 2021