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Unpaid taxes: IRS report says $450 billion owed
Politico ^

Posted on 01/06/2012 5:19:38 PM PST by Sub-Driver

Unpaid taxes: IRS report says $450 billion owed

WASHINGTON (AP) — People and businesses underpaid their taxes by an estimated 17 percent in the most recent year studied, meaning they failed to send the government $450 billion it was owed, according to an Internal Revenue Service report released Friday.

The study covered 2006, the most recent for which the IRS said it had data available. The amount of underpaid taxes far exceeded the size of the entire federal budget deficit at the time.

After IRS audits and other enforcement efforts, non-compliance shrank to 14 percent, leaving the final amount of unpaid taxes at $385 billion.

That is still larger than the budget deficit for fiscal 2006, which was $248 billion. Fiscal years begin in October of the previous year.

Altogether, the IRS estimates it was owed nearly $2.7 trillion in taxes in 2006.

Since then, federal deficits have mushroomed out of control, hitting a record $1.4 trillion in 2009 and barely receding to $1.3 trillion last year. President Barack Obama and Republicans in Congress have agreed to some spending cuts but have remained deadlocked over how to curb the massive budget shortfalls that are projected indefinitely.

The IRS has made efforts to improve compliance, such as increasing oversight of professional tax return preparers and increasing the information that must be reported to the agency by stock brokers, mutual fund companies and for some business transactions.

Even so, tax analysts said there was no reason to believe that today's compliance rate has changed significantly from the 2006 figures. That is chiefly because significant portions of the underpaid taxes are believed to come from businesses and individuals who report information about their income that is difficult for the IRS to verify.

(Excerpt) Read more at politico.com ...


TOPICS: Front Page News; Government; News/Current Events
KEYWORDS: irs; johnkerry; nottooswiftboat; taxes; taxevasion; yacht
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To: juno67

The IRS looks at everyone as a tax cheat no matter how much you pay.


41 posted on 01/07/2012 5:26:04 AM PST by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: LibsRJerks

‘We’? The Dem/Media slime machine drove him out. I still don’t know the truth about all the allegations against Cain. Although, I did like his 9-9-9 plan, particularly the enterprise zones. If we don’t reengage blacks and get them off the liberal plantation they’ll stay poor, fatherless and downtrodden.


42 posted on 01/07/2012 5:32:55 AM PST by 1010RD (First, Do No Harm)
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To: Sub-Driver
Start with Tim Geithner and Charlie Rangel.

Put them in the same cell as the Unabomber or Charles Manson.

Cheers!

43 posted on 01/07/2012 5:52:56 AM PST by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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To: Sub-Driver

Ask what the Govt owes the people, not what the people owe the government-IRS? The federal debt is how many trillion?


44 posted on 01/07/2012 6:55:10 AM PST by Neoliberalnot ((Read "The Grey Book" for an alternative to corruption in DC))
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To: Sub-Driver

And the left’s poster boy is WARREN BUFFETT!! PAY UP WARREN, you old coot.....you big creep.


45 posted on 01/07/2012 7:00:57 AM PST by Ann Archy ( ABORTION...the HUMAN Sacrifice to the god of Convenience.)
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To: headstamp 2

They should start by checking all the filthy rich that want taxes raised cause they don’t think they pay enough..That would be everyone in congress first then the democrats that want taxes raised, hollywood, and that guy from Hathaway (name slips my mind, also Gates has talked about raising taxes) lets do away with their loopholes and leave the rest of us alone...Kennedy love to raise taxes while they live on trust funds...the really rich don’t pay taxes, their money is sheltered...raise our taxes not theirs...is what they mean...


46 posted on 01/07/2012 7:46:13 AM PST by goat granny
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To: Sub-Driver

The other day I heard Cindy Shee(ite)han say she handn’t paid any taxes since her son died. Either she is lying about this (like she does everything else) or the IRS is giving her a pass. If the latter, can the rest of us join the club?


47 posted on 01/07/2012 8:12:31 AM PST by secondamendmentkid
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To: secondamendmentkid

I am a conscientious objector and therefore should not be asked to volunteer my earnings to projects I object.


48 posted on 01/07/2012 8:45:22 AM PST by urbanpovertylawcenter (where the law and poverty collide in an urban setting and sparks fly)
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To: Sub-Driver
Paging Timmy Geitner, Johnny Kerry and the Democratic Party!
49 posted on 01/07/2012 8:45:37 AM PST by paratrooper82 (We are kicking Ass in Afghanistan, soon we will be home to kick some more Asses in Congress!)
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To: Sub-Driver

I used to think that if all the small businesses and yearly filers who claim maximum deductions (owing tax at the end of the year) delayed or didn’t pay their estimated taxes and taxes, it would bring this fascist government to its knees. However, this is wrong, of course. That would only work for a law-abiding government.

Obama doesn’t care about whether we are solvent or not; he would just order the Fed to print more money and drive us further into insolvency. It is his one true goal besides subjugating us under ISLAM


50 posted on 01/07/2012 8:51:30 AM PST by Gaffer
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To: Sub-Driver

maybe just should abolish irs...


51 posted on 01/07/2012 9:56:41 AM PST by traviskicks (http://www.neoperspectives.com/Ron_Paul_2008.htm)
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To: NoGrayZone

RE: Like those who purchase a brand new yacht and dock it in another state to avoid paying taxes on it.
__________________________________________

I wonder why gaming the system is considered wrong...

Unless there is a law that says docking a brand new yacht in a state that does not tax you on it is wrong, I fail to see how this is breaking the law.


52 posted on 01/07/2012 1:56:55 PM PST by SeekAndFind
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To: Sub-Driver

If the IRS wants to collect unpaid taxes, they just need to hang around the DUmocrats in congress and DUh-bama’s appointees....the biggest assembling of TAX CHEATS in history:

All the President’s Tax Cheats
http://townhall.com/columnists/michellemalkin/2009/02/04/all_the_presidents_tax_cheats

Democrats are hypocrites when it comes to paying taxes
http://www.latimes.com/news/opinion/commentary/la-oe-goldberg3-2009feb03,0,49616.column

Further Reading:
http://www.bing.com/search?q=List+of+Democratic+Tax+Cheats&FORM=R5FD


53 posted on 01/07/2012 1:57:31 PM PST by RasterMaster ("Towering genius disdains a beaten path." - Abraham Lincoln)
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To: Sub-Driver
Unpaid taxes: IRS report says $450 billion owed

And that is just from the people in Obama's administration.

54 posted on 01/07/2012 2:09:49 PM PST by hattend (If I wanted you dead, you'd be dead. - Cameron Connor)
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To: SeekAndFind

What is wrong with you.


55 posted on 01/07/2012 3:10:13 PM PST by NoGrayZone (Stay involved..because stupid people are running America! - Herman Cain - Amen!!!)
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To: SeekAndFind
"I wonder why gaming the system is considered wrong...

Why don't you ask your fellow illegal alien while I pay for it's free ride?

56 posted on 01/07/2012 3:15:26 PM PST by NoGrayZone (Stay involved..because stupid people are running America! - Herman Cain - Amen!!!)
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To: Sub-Driver

$450 billion? So about a third of the current yearly budget deficit? Call me when you’re talking about some real money.


57 posted on 01/08/2012 9:11:50 PM PST by gura (If Allah is so great, why does he need fat sexually confused fanboys to do his dirty work? -iowahawk)
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