Contact Us
Make My Homepage

IRS Estimates 17% of Taxes Owed Went Unpaid

IRS
Flickr User MoneyBlogNewz

The Internal Revenue Service is estimating that people and businesses underpaid their taxes by $450 billion in the most recent year studied.

That means they failed to send in 17 percent of the taxes they actually owed.

The data is for 2006, the most recent tax year for which data is available. The IRS estimates it was owed nearly $2.7 trillion in taxes that year.

After IRS audits and other enforcement efforts, non-compliance shrank to 14 percent, leaving the final amount of unpaid taxes at $385 billion.

That’s bigger than the budget deficit that year, which was $248 billion.

The portion of unpaid taxes in 2006 was similar to 2001, the last year the IRS had examined.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

Best of the Web


Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!