Tax Evasion Costs The U.S. $400B To $500B Annually

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"Tax Evasion Costs The U.S. $400B To $500B Annually"

According to an analysis by Seth Hanlon, director of fiscal reform at the Center for American Progress, “$400 billion to $500 billion in taxes go uncollected every year in the United States because of tax evasion and noncompliance.” At the same time, a bill proposed by House Republicans “would slash IRS funding by more than $600 million and lead to the furlough of 4,100 to 5,000 employees, mostly enforcement agents,” even though every dollar invested in enforcement can shrink the deficit by $3.

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