In a recent report, the Treasury Inspector General for Tax Administration (TIGTA) stated that the IRS collected a record-setting amount of revenue in fiscal year 2022. It took in $4.9 trillion, $790 billion more than collected in fiscal year 2021. TIGTA’s Trends in Compliance Activities Through Fiscal Year 2022 also reports an estimated “tax gap” of $688 billion in tax years 2020 and 2021. Here are some more details: In fiscal year 2022, taxpayers filed more than 161 million individual tax returns, more than 12 million business tax returns, more than 31 million employment tax returns and more than 1 million excise tax forms. Read TIGTA’s report: https://bit.ly/3ROWc4N
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