Have you ever heard about the “tax gap” and wondered what it is? According to the IRS, “the gross tax gap is the difference between true tax liability for a given period and the amount of tax that is paid on time.” The tax agency explains that estimates consistently show the United States “enjoys a relatively high and stable voluntary tax compliance rate.” However, it adds that “sustaining and improving taxpayer compliance is important because small declines in compliance cost the nation billions of dollars in lost revenue and shift the tax burden away from those who don’t pay their taxes onto those who pay their fair share on time every year.” To learn more: https://bit.ly/3N49DJT
