“Ghost employers” issue Forms W-2 to their employees but don’t submit those forms to the Social Security Administration, file employment tax forms or make federal tax deposits. To help reduce the tax gap associated with this scheme, the IRS has called in ghost busters, according to the Treasury Inspector General for Tax Administration (TIGTA). Recently, TIGTA evaluated the results of the IRS Ghost Employer Project from 2018 to May 2023. An analysis estimated that 162,000 potential ghost employers owe $1.7 billion. Results of the project were mixed. TIGTA noted that successful cases recovered average restitution of $1.3 million per case. Read the report: https://bit.ly/3UQ9mks
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