evasion

Home|Tag: evasion

Restaurants in the cross hairs of the IRS authorities for tax evasion

At this point, our readers should be aware that there are certain industries that are more subject to examinations like restaurants and retail industries, especially if cash intensive and low controls in place. You can see numerous tax evasion schemes related to restaurants in the news,  United States Attorney's Office of each State and the

By |2024-11-12T04:43:28+00:00December 12th, 2024|Categories: Business|Tags: , , , , , , , , , , , |

IRS estimated tax gap of around $668 billion for 2021

The IRS is reporting the tax gap (amount of money that taxpayers are not settled with the Federal tax authority or the true tax liability versus the paid tax on time) amounts to around $668 billion for 2021. The breakdown is as follows (per IRS blog), comprising three components: Nonfiling, which means tax not paid

By |2024-11-12T20:29:23+00:00October 14th, 2023|Categories: Individuals|Tags: , , , , , , , , |
Go to Top