All indications are that the tax relief/tax resolution industry will have plenty of clients. I have seen estimates that 15% of Americans have a tax problem at any given time. This seems like a lot, but when you consider the non-filers, late filer, etc then it makes some sense. In fact the IRS sends out millions of letters each month and these letters are often difficult for taxpayers to interpret.
We also see that the IRS is continually trying to reduce the tax gap. The IRS collects 96 percent of the government’s total receipts, approximately $2.7 trillion. These numbers are from 2008 (the most recently released). The vast majority of those revenues come from taxpayers who voluntarily report and pay the taxes that they owe. The IRS has estimated the overall voluntary compliance rate to be approximately 84 percent.
Despite IRS efforts, a significant amount of revenue remains unreported and unpaid. The IRS estimated this gross tax gap to be approximately $345 billion. After subtracting revenue obtained through enforcement actions and other late payments, the IRS estimated the net tax gap to be approximately $290 billion. These estimates, which remain the most recent estimates available, were conducted using data collected in tax year 2001 and before. At the end of the day, the IRS is getting more and more tough with taxpayers.
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