The IRS estimates that US taxpayers voluntarily pay 83.6% of the federal income taxes that would be paid if all taxpayers were completely honest. This result is because of tax returns not being filed, income being under reported and taxes being underpaid. IRS audits have increased the net compliance rate to 85.8%. (source: IRS)
Stay tuned for our next blog on the IRS Whistleblower program
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Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.