Tax Gap
An increasing amount of attention, and government enforcement, is being focused on tax information reporting as the United States Congress and the federal administration seek ways to close the "tax gap" of over $300 billion dollars annually that would be collected by the federal government if all income were reported by U.S. individuals and businesses.
Read more about this topic: Tax Information Reporting
Famous quotes containing the words tax and/or gap:
“In 1845 he built himself a small framed house on the shores of Walden Pond, and lived there two years alone, a life of labor and study. This action was quite native and fit for him. No one who knew him would tax him with affectation. He was more unlike his neighbors in his thought than in his action. As soon as he had exhausted himself that advantages of his solitude, he abandoned it.”
—Ralph Waldo Emerson (1803–1882)
“Here is the place; right over the hill
Runs the path I took;
You can see the gap in the old wall still,
And the stepping-stones in the shallow brook.”
—John Greenleaf Whittier (1807–1892)