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IRS Chief Says Tax Gap Could Shrink 20% With Funding Boost

May 19, 2021, 7:52 PM

The IRS could recover 10% to 20% more in taxes owed if Congress gave it a much-needed funding increase, Commissioner Chuck Rettig told the Senate appropriations subcommittee Wednesday.

Rettig has previously said the tax gap—the difference between the taxes collected and owed—could be as large as $1 trillion a year. President Joe Biden has called for $80 billion over a decade in additional enforcement funding for the agency.

  • “That’s a meaningful figure. I leave it to the economists to determine what actually those recoveries would be,” Rettig said of the estimated recovery percentage.
  • The Biden administration has said a ...

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