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News Articles: tax gap

A sign outside the Internal Revenue Service building is seen, May 4, 2021, in Washington. The amount of tax money owed but not paid to the IRS is set to keep growing, according to projections published by the federal tax collection agency.

Gap between U.S. income taxes owed and paid is set to keep growing, the IRS says

For tax years 2021 and 2020, the latest to receive such IRS estimates, the projected gross "tax gap" soared to $688 billion and $601 billion, respectively. That is a significant jump from the past.

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By:
  • The Associated Press