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Cryptocurrency Taxes

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2022 tax filing season IRS backlog federal deductibility Biden increase tax compliance costs and tax enforcement tax gap discussion IRS commissioner

5 Things to Consider in the Tax Gap Discussion

Increasing tax compliance is a major part of the Biden administration proposal to raise revenue for physical and social infrastructure. Reducing the tax gap—the difference between taxes owed and taxes paid—is a good way to raise revenue, but it doesn’t come without trade-offs, and it’s important to go about it in the right way.