Taxpayers stiff IRS by nearly $300B

CNN MONEY ^ | March 29, 2005 | CNN MONEY

[pigdog]

There's still a yawning gap between what some taxpayers owe and what they pay, according to the IRS. That gap -- known as the net tax gap -- is between $257 billion and $298 billion, according to preliminary findings from a three-year study on taxpayer compliance released Tuesday.

"Even after IRS enforcement efforts and late payments, the government is being shortchanged by over a quarter-trillion dollars by those who pay less than their fair share," IRS Commissioner Mark Everson said in a statement.

The major source for the gap -- about 80 percent of it -- is from individual taxpayers underreporting their income.

[pigdog]

This fits in with the idea of compliance costs which are about a like amount but not included in this figure.

[nickcarraway]

So sad.

[Osage Orange]

Well I figure I'm getting short-changed....and not getting my monies worth. So we are even.

[chemicalman]

Clinton said he wasn't paying enough.

[pigdog]

New thread ... come on in - that water's fine.

[Terabitten]

ROFL! Ain't that the truth.

[carenot]

There's still a yawning gap between what some taxpayers owe and what they pay, according to the IRS.

Good.

[neodad]

those who pay less than their fair share

Who exactly determines what their "fair share" is?

[shooter223]

if Jefferson,Franklin & friends were around they would applaud

[pigdog]

Obviously - the IRS. That's what the article says. Ain't that neat???

[Frohickey]

So, when is the IRS going to partner with the border patrol to clamp down on migrant workers and the ones hanging outside of Home Depot?

[Kokojmudd]

Boo hoo.

[pigdog]

You mean ou don't think the present system taxes the illegal economy such as the part you mention???

Heck that's probably only another quarter Trillion bux or so - do we really care about such small change?

[thoughtomator]

I'm working as a consultant for the federal government right now and I would guess that no less than 90% of the money that is spent is a total and complete waste. I know people who play solitaire for a living on the federal dime. I am daily astonished by the ineptitude I encounter at almost every turn. When I expect things to get done in a reasonable amount of time (based on my corporate experience), people look at me like I have two heads. Productivity is definitely not a government value, and there are plenty of people who don't hesitate to admit that the government is effectively a charity jobs program.

Yes, I know the previous paragraph seems a bit off-topic but I felt a reminder as to where that money would otherwise go (the toilet) helps to put it in perspective.

[Terabitten]

heh... I firmly believe you have to be a GS-13 or above to *truly* commit waste, fraud, and abuse.

[pigdog]

Heck, I'll bet you and I could help spend it, couldn't we???

The whole system is corrupt as can be and those who are trying so hard to retain it are doing ALL of us a great disservice I'd say.

[Snoopers-868th]

Wonder how much our legislators stiff the taxpayer?

[FormerACLUmember]

There a have to be a hundred billion dollars in lost tax revenue in the vast illegal alien economy.

Check out these local riff raff lined up for day labor ($100-$200 cash... per day). Multiply this by a hundred thousand such areas all over the US.

[visualops]

the government is being shortchanged

**cough**sputter***

[tpmintx]

This fits in with the idea of compliance costs which are about a like amount but not included in this figure.

Let's see Hundreds of Billions of dollars of underpayment, and humdreds of billions of dollars spent trying to comply with the 475,000 (or whatever) pages of conflicting rules and regulations.

Hmmm... Maybe there could be a better way... Maybe we could just go with a simple tax system... Maybe we could just do a sales tax... or a flat tax...

NAHHH!