Are you looking to take a deeper dive into the topic of the “tax gap?” The Joint Committee on Taxation (JCT) recently published a report that provides background on federal tax law and analyzes issues related to the tax gap. According to the JCT, a definition of the tax gap is the shortfall between the amount of tax voluntarily and timely paid by taxpayers and their actual liability. It measures such things as the underreporting and underpayment of taxes, as well as non-filing. Specifically, the report addresses the economics of tax compliance and examines the roles of tax behavior, policymakers and the IRS. Download the JCT report here: https://bit.ly/3vxmGdS Call or visit our website for more information! www.mjscpa.com/
