Treasury Department

@USTreasury ↗

Deleted No

Hibernated No

Last Checked Feb. 8, 2022

Created

Wed Sep 08 14:51:53 +0000 2021

Likes

Retweets

Source

Twitter Web App

View Raw Data

JSON Data

View on Twitter

Likely Available

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

Preceded By

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

Followed By

Treasury Department @USTreasury

For ordinary wage and salary income, tax compliance is nearly perfect. For opaque income streams that accrue disproportionately to the wealthiest, the IRS often lacks important information needed for enforcement & tax noncompliance can be above 50%. https://t.co/V7LKpUl8Kp — PolitiTweet.org

Posted Sept. 8, 2021