Monday, February 16, 2009

Tax Gap Bridge Delayed

The IRS had made a concerted effort in the past few years to close the tax gap through enforcement and compliance. There have however been problems with the execution of their plans. With high workloads and low employee levels, closing the tax gap has been quite a large task for the IRS. Well now the IRS has more problems to deal with since a new report by the TIGTA (Treasury Inspector General for Tax Administration) reveals that the IRS has not been effective with their cases that involve large dollar amounts. The IRS estimates that discontinued collection accounts total around $209 million.

Guess the new report means that there will be a delay in building the bridge to close the tax gap.

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