- ► 2008 (159)
- Personal Flower Distribution
- LG and Axiom Telecom announce Middle East Distribu...
- Tax Gap hits Quarter Trillion - Expect More Audits...
- Simmons Jannace & Stagg Full Service Law Firm
- Wal-Mart Agrees to Pay $33.5 million in roll-Backw...
- The Blockbuster Triple Play
- Valentines Day Gifts
- Fed Likely to Stay the Course Too
- Ford Posts Record Loss
- Belisi Brand Designs Clothing Accessories
- Wal-Mart gets Picky About Fabrics
- Could Blister Packaging Bring Environmental Fines?...
- Civil Engineering Recruiters
- Cingular Wireless to be Rebranded as AT&T
- Maven Mappers Covers CES
- Beyond Blossoms Flowers
- Unemployment Holds in December
- Adelphia Exits Bankruptcy to Wind Down
- DotFlowers Flower Delivery
- Minyard Food Stores closing Texas Distribution Cen...
- Wal-Mart Employee Accused of stealing $80k in iPod...
- Epocrates Online
- Internet Spending up 26% Spending surges over $100...
- Chrysler Catching up On Inventory Glut
- Online Stock Options Tool Free Trial
- The Home Depot CEO to Agrees with Board to Resign
- ▼ January (26)
Congress is getting more on concerned about the rising tax gap. The tax gap is the difference between what tax payers owe and what they pay. They are basically uncollected receivables.
Congress has been stepping up its support of the IRS to go after delinquent payments. Budgets for audits have risen to almost $50 billion to chase after a tax gap of $290 billion.
Audits frequency is increasing and audits of wealthy tax payers and businesses has more than doubled since 2000. So this means that the average business tax payer can expect less wheeling and dealing with the IRS on settlements and more audits in the years to come.