Apr
15

Tax Time

Based on an IRS study from 2016 which looked at tax years 2008-2010, the size of the tax gap, the amount of money owed the IRS but not paid, averaged $406 billion/year. That means 16% of taxes went unpaid; about 2.8% of GDP. If the gap today is the same proportional size as it was then, the gap is $600 billion. For context, the deficit in 2018 was $779 billion.

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