IRS To Focus More on HIGH-INCOME Taxpayers 💰💰💰

IRS watchdog agency, TIGTA, recently conducted a study that identified 685,555 taxpayers who had a balance due owed to the IRS. These taxpayers reported adjusted gross income (AGI) of $200,000 or more and owed a combined total of $38.5 billion to the IRS.

In this response to this study, the IRS has agreed to make changes to its collection strategy related to so-called "non-filers" and "underpayment" taxpayers who fit the high-income threshold.

The gross Tax Gap is the estimated difference between the amount of tax that taxpayers should pay and the amount paid voluntarily and on time. The three-year average annual gross Tax Gap is estimated to be $441 billion for Tax Years (TY) 2011 through 2013, of which $50 billion (11 percent) is due to underpayment. Individual income tax accounts for $38 billion (76 percent) of the underpayment. Approximately $39 billion (9 percent) of the gross Tax Gap is due to nonfilers—taxpayers who do not timely file a required tax return and timely pay the tax due for such delinquent returns.

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