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Improving IRS tax collection enforcement could generate significant funds In fiscal year 2021 the IRS managed more than $4.1 trillion in tax revenue. The annua

by nabla9 2y ago

Improving IRS tax collection enforcement could generate significant funds In fiscal year 2021 the IRS managed more than $4.1 trillion in tax revenue. The annual tax gap was estimated at $688 billion in 2021, with $625 billion remaining uncollected even after enforcement efforts. 16.7 percent.

yieldcrv 2y ago
and you don’t realize that this proves my point? ~$5.3 trillion doesn't solve the US’ budget holes, while the US government tells you what transactions to make to not be taxed
- fwip 2y ago
  That's the amount of taxes that companies/people legally owe but don't pay (and are collectable). It's not really related to the amount of taxes that are legally avoided by big businesses through techniques like this "double Irish Dutch sandwich."
  - yieldcrv 2y ago
    I’m aware What is your preferred outcome?
    - fwip 2y ago
      I'm not sure that my preferred outcome is relevant to what the other person meant, but I would like a simpler tax structure and higher-than-current effective rates for wealthy entities.
intuitionist 2y ago
So collecting all those extra taxes would cover somewhere south of 25% of the budget deficit for 2021. You aren’t wrong, but the parent isn’t wrong either.