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Bill USA

(6,436 posts)
1. Net Tax Gap for 2006: $385 Billion - IRS
Thu Feb 7, 2013, 04:42 PM
Feb 2013

The Net Tax Gap is the amount owed in taxes that is not reported and will never be collected.

Note that $385 Billion is for just one year. That means in ten years if all the taxes owed were collected, we would gain almost $4 TRILLION in additional revenue. IN other words ------ NO DEFICIT!!!! (I'm shouting in an attempt to be heard by the M$M who largely remain mum about this).

http://www.irs.gov/pub/newsroom/overview_tax_gap_2006.pdf


The net tax gap is defined as the amount of true tax liability that is not paid on time and is not collected subsequently, either voluntarily or as the result of enforcement activities. Thus, the net tax gap represents the amount of tax liability that is never paid.
(more)


... nearly all the tax evasion is pulled off by Corporations and wealthy individuals who have the money to pay tax specialists to find ways to not declare (legitimate or otherwise) and thus not pay taxes owed. Creating dummy business entities which have no apparent business reason for existing but exist just to avoid paying taxes is considered tax evasion by the IRS.

..recommended.
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