Tax experts from the Congressional Budget Office (CBO) conducted a briefing for officials from the Brazilian Tax and Customs Administration that focused on the U.S. “tax gap.” The gross tax gap generally is defined as the difference between estimated “true” tax liability for a given period and the amount of tax that’s actually paid on time. According to the CBO, estimates of the gross U.S. tax gap for the period from 2014 to 2016 averaged $496 billion annually. “That amount was 2.8% of gross domestic product and about 18% of federal taxes owed,” the CBO said. For information from the CBO on the tax gap and IRS funding: https://bit.ly/3lg5mdM
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