EPISODE · Apr 14, 2021 · 1H 4M
Ask AICPA: Is IRS Underfunded? Service Levels & The Tax Gap
from The Accounting Podcast · host Blake Oliver & David Leary
Show NotesHow to Collect $1.4 Trillion in Unpaid Taxeshttps://www.nytimes.com/2021/03/20/opinion/sunday/unpaid-tax-evasion-IRS.htmlGet in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsPodchaser: http://cloudacctpod.link/podchaserSpotify: http://cloudacctpod.link/SpotifyGoogle Play: http://cloudacctpod.link/GooglePlayStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsGo here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad? Hit the show notes for the link to get more info.
Embed this episode
What this episode covers
Blake interviews Ed Karl, CPA & Vice President of Taxation at the Association of International Certified Public Accountants about Internal Revenue Service funding levels and the impact on both IRS service levels and the Tax Gap (the difference between what taxpayers should pay and what they actually pay on time). For years, service levels have been declining while the Tax Gap has been increasing, mostly due to unreported business income. A 2019 analysis by the IRS estimated that Americans report less than half of all income not subject to some form of third-party verification (such as a W-2). This year, unpaid federal income taxes could amount to more than $600 billion, and over the next decade, it could be as high as $7.5 trillion. Could increasing funding for the IRS help to solve both these issues? We discuss this and more in this in-depth interview.
Ready to play
Ask AICPA: Is IRS Underfunded? Service Levels & The Tax Gap
No transcript for this episode yet
Similar Episodes
No similar episodes found.
Similar Podcasts
No similar podcasts found.