CNNMoney.com reports in an article titled Obama Tax Panel on Treasure Hunt,
The administration said this week it will form a task force to propose ways to simplify the tax code, reduce evasion, close loopholes and make changes in corporate breaks.
One overarching end-goal: Raise revenue.
A major focus for the task force will be to reduce the estimated $300 billion-a-year tax gap — the difference between what individual and corporate taxpayers owe and what they actually pay.
“Three hundred billion a year or more is a lot of money, and we are interested in being as aggressive as possible in trying to reduce that number,” White House budget director Peter Orszag said.
I hate to say “I told you so”, but I told you so.
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4 responses so far ↓
1 How the IRS Selects Returns for Audit // Apr 10, 2009 at 12:38 am
[...] Obama has ordered the IRS to intensify its efforts to close the tax gap
2 Foreign Bank Accounts: Who Must File Treasury Department Form 90-22.1 // Apr 21, 2009 at 3:17 am
[...] UBS investors well know, the push has already begun in earnest and we expect it to intensify as the Obama administration seeks to close the tax gap as a means
3 Federal Receipts Down 14% From Last Year // Apr 24, 2009 at 8:46 am
[...] previous wrote about this here, here and [...]
4 Tax Imperialism? // Oct 8, 2009 at 4:27 am
[...] [...]
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