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Silent Type

(10,104 posts)

5. trump's approach won't work, but it's not like the IRS has been that effective in catching tax cheats.

Sat May 31, 2025, 10:34 AM

May 31

Article dated November 4, 2024 (somewhat ironic)

By Barbara Weltman Updated November 04, 2024
Reviewed by Erika Rasure

"The Internal Revenue Service (IRS) knows it has a big problem. Estimates from the IRS reveal a gross tax gap of $688 billion between 2020 and 2021 (its most recent estimate). The tax gap is the spread between what the government thinks it should be collecting and what it collects.

"Some cheats fail to report income, while others knowingly take write-offs they’re not entitled to. For example, the government pays out billions of dollars annually in refundable earned income tax credits due to fraudulent claims."

https://www.investopedia.com/articles/personal-finance/041515/how-irs-catches-tax-cheats-liars.asp

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The end of fair taxation. Why will we regret gutting the IRS [View all] Zorro May 31 OP

IRS does a good job. creon May 31 #1

i assume many, many ppl will just cheat w abandon now. mopinko May 31 #2

And a necessary one, but Congress kept cutting their budget. As a CPA, I saw fewer and fewer audits. surfered May 31 #3

We? Sounds like someone's got a mouse in their pocket. Autumn May 31 #4

trump's approach won't work, but it's not like the IRS has been that effective in catching tax cheats. Silent Type May 31 #5