Americans Failed to Pay a Record Amount In Taxes

Americans Failed to Pay a Record Amount In Taxes: Says IRS

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[{"selector":"#anim-4fe6c278-2207-40db-ab95-8dae6012f59b","keyframes":[{"transform":"scale(1)","offset":0},{"transform":"scale(1.5)","offset":0.33},{"transform":"scale(0.95)","offset":0.66},{"transform":"scale(1)","offset":1}],"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-14521525-ad26-4301-b165-c2543c03be35","keyframes":{"opacity":[0,1]},"delay":300,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Compared to estimates for the 2017-2019 tax years, the tax gap increased by over $138 billion, primarily driven by economic growth. The shift from wage income to gig economy jobs with lower compliance contributed to this rise.

The compliance rate for taxpayers in 2021 is expected to remain stable at 86.3% after the implementation of audits and enforcement measures.

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The primary source of noncompliance, amounting to $182 billion, stemmed from unreported business and farm income documented on individual returns' Schedule C and F.

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