Published 3 years ago

High-Income Tax Avoidance Far Larger Than Thought, New Paper Estimates

Summary

The top sliver of high-income Americans dodge significantly more in income taxes than the Internal Revenue Service’s methods had previously assumed, according to forthcoming estimates from IRS researchers and academic economists.

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Yahoo News

The richest Americans don't report at least 20 percent of their income to the IRS, new research suggests

The richest Americans dodge much more in income taxes than the Internal Revenue Service previously assumed, according to research being published Monday by IRS and academic researchers. The top 1 percent of U.S. households don't report about 21 percent of their income, and a big slice of that — 6 percentage points — is from sophisticated tax-avoidance strategies that aren't detected in spot IRS audits, The Wall Street Journal reports. The top 0.…

3 years ago·Los Angeles, United States

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New York Post

Rich people are dodging more taxes than the IRS realized, study finds

The richest Americans use crafty methods to dodge taxes on far more income than the feds previously thought, a new study shows. The Internal Revenue Service tries to catch high-income tax evaders w…

3 years ago·New York, United States

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The Hill

IRS researchers: Top 1 percent avoids taxes on one-fifth of their income

The top 1 percent of households in terms of income fail to report an astonishing 21 percent of their income to the IRS, according to a new paper co-authored by IRS researchers and prominent academics in the National Bureau of Economic Research.

3 years ago·Washington, United States

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Raw Story

'This is tax evasion': Richest 1 percent of US households don't report 21 percent of their income, analysis finds

A new analysis by IRS researchers and academics published Monday morning estimates that the richest 1% of U.S. households don't report around 21% of their income, often using complex tax avoidance strategies that allow them to outmaneuver the federal government's increasingly rare audits of the we...

3 years ago·United States

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Business Insider

The top 1% of high-income households in the US fail to report 20% of their income, a new paper reveals

The top 0.1% fail to report almost double that by using methods such as offshore accounts and pass-through businesses, researchers found.

3 years ago·United States

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Political Wire

High-Income Tax Avoidance Far Larger Than Thought

“The top sliver of high-income Americans dodge significantly more in income taxes than the Internal Revenue Service’s methods had previously assumed, according to forthcoming estimates from IRS researchers and academic economists,” the Wall Street Journal reports.“Overall, the paper estimates that the top 1% of households fail to report about 21% of their income, with 6 percentage points of that due to sophisticated strategies that random audits…

3 years ago·New York, United States

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