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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.
1 year ago·Washington, United States

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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…

1 year ago·Los Angeles, United States
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The GuardianThe 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

1 year ago·London, United Kingdom
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The IndependentThe 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

1 year ago·London, United Kingdom
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IBTimesIBTimes

Treasury Says Top 1% Dodge $163 Billion In Taxes Annually, Calls For Increased IRS Funding

The Treasury Department released a report on Wednesday that shows how the top 1% of earners in the U.S. are dodging $168 billion in taxes annually. With this finding, the department says it is necessary to inject new funding into the Internal Revenue Service (IRS) to fill what it terms as the “tax gap.”

1 year ago·United States
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New York TimesNew York Times

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

A new report makes the case that narrowing the tax gap is part of the Biden administration’s ambition to create a more equitable economy.

1 year ago·New York, United States
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CNBCCNBC

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.

1 year ago·United States
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