charts & graphs

closing the tax gap: more data, more compliance?

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tax professionals should brace for a new wave of information reporting.

misreporting by income category: the staggering difference in the tax gaps left by workers with income subject to information reporting and withholding compared to those with income subject to little or no information reporting – less than $10 billion compared with more than $150 billion. (via u.s. department of treasury)

by 卡塔尔世界杯常规比赛时间 research

here’s something the irs has discovered and many tax preparers can probably confirm: while roughly 99 percent of taxes due on wages are paid to the irs, compliance on less visible sources of income is estimated to be just 45 percent.

more: how charlatans, creeps, and ghosts plague the tax profession | grappling with the tax gap | wealthiest taxpayers cheat irs out of $400 billion a year | 173% increase in irs correspondence backlog | hunker down: the irs backlog isn’t going away anytime soon | the irs studebaker bomb | imagine irs ‘concierge’ service. just imagine. | irs has recruiting problems, too
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yes, it seems that americans are more willing to pay what they owe when the irs knows they owe it.
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salt: the small business disaster waiting to happen

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more highlights: “tax season from hell.” the pandemic pivot. small business outlook. digitally-powered recovery.

small business salt: 98% of accountants say small businesses are vulnerable to interstate sales tax issues, including 7% who say “none or almost none” are in compliance and 39% who say “most” are not and another 39% saying only “some” are.  (卡塔尔世界杯常规比赛时间 research)

 

by 卡塔尔世界杯常规比赛时间

three years after the notorious “wayfair” decision, accountants say a vast number of small businesses face new and burdensome interstate sales tax measures. but only a few accountants appear ready to help, according to new research by 卡塔尔世界杯常规比赛时间.

more: survey: rough seas ahead for small business

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most accountants believe that 98 percent of small businesses – virtually all – are failing to fully comply with all the interstate sales tax issues they may be liable for. and yet, about 71 percent of accountants are falling short of handling all their clients’ sales tax issues, with about 12 percent saying they address “most” issues, 36 percent handling “some,” and 24 percent handling none, according to the new study conducted in conjunction with avalara, the tax management software company.

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