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Dec 07, 2021SUBSCRIBE NOW

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

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.
9 months ago|New York, United States

BIAS COVERAGE DISTRIBUTION

10 of these news sources are bias rated
6 lean LEFT
L 60%
C 20%
R 20%
Raw Story
Common Dreams
Salon
Truthout
+1
Business Insider
The Week
The Hill
Political Wire
New York Post
Wall Street Journal
ALL ARTICLES
Yahoo News
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.…

9 months ago|Los Angeles, United States
The Hill
The HillC

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.

9 months ago|Washington, United States
New York Post
New York PostR

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…

9 months ago|New York, United States
Raw Story
Raw StoryL

'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...

9 months ago|United States
Business Insider
Business InsiderL

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.

9 months ago|United States
Political Wire
Political WireC

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…

9 months ago|New York, United States
Common Dreams
Common DreamsL

'This Is Tax Evasion': Richest 1% of US Households Don't Report 21% of Their Income, Analysis Finds

"We estimate that 36% of federal income taxes unpaid are owed by the top 1%."

9 months ago|United States
Salon
SalonL

Top 1% fails to report over 20% of income using potentially "criminal" tactics: IRS analysis

Progressives have introduced a bill to boost the IRS budget to increase audits of the rich and claw back $1.2 trillion in revenue.

9 months ago|S F, United States
Wall Street Journal
Wall Street JournalR

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

IRS researchers and academic economists estimate unreported income at the very top may be nearly twice as large as agency approaches suggested.

9 months ago|New York, United States
Truthout
TruthoutL

IRS Researchers Find Top 1% of US Households Don’t Report About 21% of Income

The new analysis finds that these households often use complex tax avoidance strategies to outmaneuver audits.

9 months ago|Sacramento, United States
COVERAGE DETAILS

BIAS COVERAGE DISTRIBUTION

10 of these news sources are bias rated
6 lean LEFT
L 60%
C 20%
R 20%
Raw Story
Common Dreams
Salon
Truthout
Business Insider
The Week
The Hill
Political Wire
New York Post
Wall Street Journal
Total News Sources12Leaning Left6 sourcesLeaning Right2 sourcesCenter2 sourcesLast Updated9 months ago
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