Treasury Department

@USTreasury ↗

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Last Checked Feb. 4, 2022

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Wed Sep 08 14:51:53 +0000 2021

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Treasury Department @USTreasury

Today’s tax code operates by 2 sets of rules: One for regular wage & salary workers who report virtually all income they earn, another for the wealthy who often avoid a large share of owed taxes. Academic estimates suggest +$160B lost/yr from taxes the top 1% choose not to pay. https://t.co/plDX8aDU9A — PolitiTweet.org

Posted Sept. 8, 2021

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Treasury Department @USTreasury

NEW from the Treasury policy team: The Case for Attacking the Tax Gap. https://t.co/O5jq5w9H2H The “tax gap”— the difference between taxes that are owed and collected — totals about $600 billion annually and is a major source of inequity. A thread/ — PolitiTweet.org

Posted Sept. 8, 2021

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Treasury Department @USTreasury

Why does misreporting rise w/ income? In part, higher-income taxpayers have ability to use highly-paid experts to shield income from its true tax liability. But also because of the info that the IRS has access to... — PolitiTweet.org

Posted Sept. 8, 2021