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

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

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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

These measures are part of @POTUS's recent proposals in the American Families Plan. Experts estimate that these compliance initiatives would raise $700 billion in additional tax revenue over the next decade, revenue that can be used to investment in American children & families. — PolitiTweet.org

Posted May 20, 2021