IRS Shorted $688 Billion in 2021 – IOTW Report

IRS Shorted $688 Billion in 2021

cbs news

Americans failed to pay $688 billion in taxes on their 2021 returns, a record level, according to a new estimate from the IRS. The agency said that it is taking “urgent” steps to increase compliance such as auditing more high-income taxpayers as well as businesses and partnerships. 

The $688 billion estimate reflects the first time the IRS is providing information about the so-called tax gap on an annual basis, with the agency noting in a Thursday statement that it plans to continue providing the data on a yearly basis. The number reflects an increase of more than $138 billion from estimates for tax years 2017 to 2019, the agency said. More

24 Comments on IRS Shorted $688 Billion in 2021

  1. Not really sure what to think about that report.
    I started in the job market back in 1973, the Gov has been taking payroll tax between 25% and 35% of my income at federal level and 8% at the state level. So how do you short yourselves 688 Billion and how can I participate in that shortfall without going to prison?

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  2. How else can they justify hiring 75,000 new IRS agents? And we must make sure that all are probably firearms trained and equipped, hint, they see what’s coming and they want as many guns on their side as possible.

    “how can I participate in that shortfall without going to prison?”

    Have Joe adopt you, easy peasy.

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  3. Taxes, licenses, fees and all the other government imposed money grabs amount to over 50% of the income of producers. I read where 51% of people pay NO taxes whatsoever and also receive some tape government benefit. All the while the government sends gazillions to countries who hate us, fund ridiculous unworkable programs and live lavishly in DC on the taxpayer dime with absolutely no oversight or accountability. I know people who say it’s in their best interest to NOT work. This picture is very troubling. It’s unsustainable for much longer. Our “leaders” squander tax dollars all over the world but very little is used to benefit the American people directly. Our infrastructure is falling apart and we have countless problems here that need to be addressed. Add the instability all over the world and we are in a HUGE MESS.

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  4. Just print $688 Billion more!
    It’s all good!

    Anything – ANY-fukkin-THING – from the government is a lie.
    This is another lie to serve some nefarious purpose of the government.
    Quit pissing away (actually, the pols are stealing it) $Billions in the Ukraine Laundromat and to the illegal-alien invading rat-people!

    There. I just saved the US about $3 Trillion.

    mortem tyrannis
    izlamo delenda est …

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