|
|
Last month, the IRS released a report called "Reducing the Federal Tax Gap: A Report on Improving Voluntary Compliance." (We've included the link in case you've got an advanced case
of insomnia or are searching for bizarre ways to impress your friends and colleagues.) The report details steps
currently underway and those in the works by the IRS to support their strategy for closing the tax gap. Components
of this strategy include:
- Reducing Opportunities for Evasion
- Making a Multi-Year Commitment to Research
- Exploring Hexes, Curses, and other Forms of Black Magic
- Continuing Improvements in Information Technology
- Improving Compliance Activities
- Devising Creative Forms of Psychological Torture
- Enhancing Taxpayer Service
- Reforming and Simplifying the Tax Law
- Coordinating with Partners and Stakeholders
The tax gap, defined as the difference in monies owed to the
IRS and what is actually collected, was estimated to be approximately $290 billion. And in all seriousness, anything
the IRS can do to close this gap (minus the black magic and psychological torture) is commendable as the gap places
an undue burden on the majority of Americans who accurately pay their taxes.
To ask a question, request additional information,
or unsubscribe, simply reply to this message. And if you know of anyone who may be interested in "Taxing Details,"
don’t hesitate to pass it along.