Yearly Tax Gap Could Exceed $1 Trillion, Rettig Says

Law360 (April 13, 2021, 6:53 PM EDT) -- The gap between taxes owed each year and those actually paid could be more than $1 trillion, much larger than the most recent estimate of $441 billion, IRS Commissioner Chuck Rettig told the Senate Finance Committee on Tuesday.

IRS Commissioner Chuck Rettig told the Senate Finance Committee on Tuesday that his agency is making the most of its resources, but "we do get outgunned." (AP Photo/Susan Walsh) The ballooning of the tax gap, Rettig said, can be partly attributed to the growth in popularity of cryptocurrency, which was still a relative novelty the last time the Internal Revenue Service released an...

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