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Guns Guns Guns
Guest
Close to 15% of federal taxes -- or $385 billion -- went unpaid in 2006, according to new estimates by the IRS.
84% of the total tax gap is due to under-reporting of income by corporations, small businesses and individuals.
But under-reporting by small businesses and others who report business income on the individual tax return is the biggest single culprit, accounting for more than a quarter of the gap.
The basic W2 working Joe who has money withheld automatically from his paycheck typically has a very high compliance rate.
A net of only 1 percent of wage and salary income was misreported.
Amounts subject to little or no information reporting had a 56 percent net misreporting rate.
And the GOP claims these people are taxed too much?
http://money.cnn.com/2012/01/06/news/economy/tax_gap/?source=cnn_bin
84% of the total tax gap is due to under-reporting of income by corporations, small businesses and individuals.
But under-reporting by small businesses and others who report business income on the individual tax return is the biggest single culprit, accounting for more than a quarter of the gap.
The basic W2 working Joe who has money withheld automatically from his paycheck typically has a very high compliance rate.
A net of only 1 percent of wage and salary income was misreported.
Amounts subject to little or no information reporting had a 56 percent net misreporting rate.
And the GOP claims these people are taxed too much?
http://money.cnn.com/2012/01/06/news/economy/tax_gap/?source=cnn_bin