Published 3 years ago

The top 1 percent are evading $163 billion a year in taxes, the Treasury finds

Summary by Ground News

The wealthiest 1% of US taxpayers are responsible for an estimated $163bn in unpaid tax each year. The Biden administration proposes closing the tax gap by empowering the Internal Revenue Service to more aggressively pursue unpaid taxes. Republicans in Congress and lobbyists for business are united in opposition to the proposal to beef up tax enforcement.

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Yahoo News

US’s wealthiest 1% are failing to pay $160bn a year in taxes, report finds

This amounts to 28% of the ‘tax gap’, treasury report says, which Biden proposes closing by empowering IRS to pursue aggressively The US Department of the Treasury in Washington DC. Photograph: Olivier Douliery/AFP/Getty Images The wealthiest 1% of Americans are responsible for more than $160bn of lost tax revenue each year, according to a new report from the US treasury. Natasha Sarin, deputy assistant secretary for economic policy, said: “A we…

3 years ago·Los Angeles, United States

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The Guardian

US’s wealthiest 1% are failing to pay $160bn a year in taxes, report finds

This amounts to 28% of the ‘tax gap’, treasury report says, which Biden proposes closing by empowering IRS to aggressively pursue

3 years ago·London, United Kingdom

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The Independent

Top 1% responsible for $163 billion in unpaid tax, says US Treasury

The wealthiest 1 per cent account for 28 per cent of the tax gap, while the top 20 per cent of earners account for 77 per cent of the gap

3 years ago·London, United Kingdom

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CNBC

Top 1% dodge $163 billion in annual taxes, Treasury estimates

The top 1% of Americans may be avoiding as much as $163 billion in annual taxes, according to a report from the U.S. Department of the Treasury.

3 years ago·United States

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CBS News

Richest Americans fail to pay $163 billion in taxes, Treasury estimates

The so-called "tax gap" could total $7 trillion over the next decade.

3 years ago

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The Hill

Treasury: Top 1 percent responsible for $163 billion in unpaid taxes

The U.S. loses roughly $163 billion each year in taxes owed and unpaid by the richest Americans, the Treasury Department estimated in a Wednesday blog post defending President Biden’s tax plan.

3 years ago·Washington, United States

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