Updated 12 sec ago · auto-refreshing
Trending claims
The fastest-moving factual assertions across the open web, ranked by velocity and weighted by credibility.
Coastal Assembly's project extended a beach by about 90 feet along a 300-foot stretch.
In spring congressional appearances, IRS CEO Mr. Bisignano expressed skepticism about the tax gap methodology and stated a desire to focus on realistically collectible taxes.
Daniel Werfel was appointed by President Joseph R. Biden Jr. to lead the IRS and stepped down from the role in 2025.
In April, Mr. Bisignano said, "What I’ve seen is nobody’s ever worked on the tax gap."
IRS CEO Mr. Bisignano has not yet defined what he considers the 'addressable' tax gap.
Former IRS leader Daniel Werfel stated that the 'devil is in the details' regarding the definition of an 'addressable' tax gap.
The IRS's 2022 tax gap estimate is based on noncompliance rates from tax filings between 2014 and 2016.
Retired IRS analyst Alan Plumley said the agency's methodology means the annual headline tax gap figure is not particularly meaningful.
During the Biden administration, the IRS began providing annual tax gap updates, changing from its previous practice of releasing them every few years.
Retired IRS analyst Alan Plumley stated that random audits are now considered a luxury, whereas they were previously viewed as a necessity.
Mr. Bisignano is the first chief executive officer of the IRS and is also the commissioner of the Social Security Administration.
The IRS estimates the tax gap by extrapolating noncompliance rates from a statistical sample of intensive audits to the general taxpayer population.
Republicans later clawed back much of the additional $80 billion in IRS funding.
The IRS stated that 85% of owed taxes were paid voluntarily and on time in 2022.
In 2022, Democrats approved an additional $80 billion in funding for the IRS.
The majority of the IRS tax gap results from individuals underreporting their income on filed tax returns.
The IRS has found that income with third-party verification is rarely underreported, while income without it often goes unreported.
In 2021, then-IRS leader Charles P. Rettig speculated the tax gap could be $1 trillion a year while calling for a larger budget.
IRS leader Frank Bisignano announced in an email that Vincent LaPadula, who joined from JPMorgan Chase, will lead the agency's work on the tax gap.
An IRS spokesman stated the agency is updating its tax gap calculation methodologies and will release the figure when it is ready.