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U.S. Department Of The Treasury Releases Report On The American Families Plan’s Tax Compliance Agenda - Report Details Investment In The IRS To Improve Tax Compliance Date 20/05/2021 Today, the U.S. Department of the Treasury released a report on a set of tax compliance measures to increase fairness in the tax system and foster a tax system where Americans pay the taxes they owe. These measures are part of President Biden’s recent proposals in the American Families Plan, with the goal of advancing comprehensive and necessary investments in American children and families. This report describes the President’s tax compliance initiatives that seek to close the “tax gap” the difference between taxes owed to the government and actually paid. According to Treasury analysis, the tax gap totaled nearly $600 billion in 2019 and will rise to about $7 trillion over the course of the next decade if left unaddressed roughly equal to 15% of taxes owed. These unpaid taxes come

United statesRevenue serviceTreasury office of tax analysisUs department of the treasuryGovernment accountability officePresident bidenAmerican families planInternal revenue serviceBusiness file systemsChild tax creditEarned income tax creditDependent care tax creditAmerican familiesTreasury officeTax analysisSmondo visione