The IRS recently released a new set of tax gap estimates for tax years 2104 through 2016 showing the estimated gross tax gap increased to $496 billion, a rise of over $58 billion from the prior estimate.
The gross tax gap is the difference between the estimated “true” tax liability for a given period and the amount of tax paid on time.
Between the two periods, 2011-2013 and 2014-2016, the estimated tax liability increased by more than 23%. Learn more.