The IRS recently issued a new projection of the tax gap. While the projection’s release received much attention and some hand-wringing from Democrats, it actually adds little to the previous estimate. Essentially, the new projection adjusts that estimate for recent receipts, not changes in compliance.
Tax Notes: Democrats’ Tax Gap Manipulation
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National Association of Manufacturers submits comments to the IRS on Basis Shifting rules, calling them “ill-conceived”, “impermissible” and “wholly unauthorized”
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