Tag Archives: Tax Gap

IRS Releases New Tax Gap Estimates; Compliance Rates Remain Statistically Unchanged From Previous Study

Courtesy of IRS. WASHINGTON — The Internal Revenue Service today released a new set of tax gap estimates for tax year 2006. The tax gap is defined as the amount of tax liability faced by taxpayers that is not paid on time.  The new tax gap estimate represents the first full update of the report […]

Using the Clubhouse

Today TaxMama hears from Linda in the TaxQuips Forum with this concern.buy aciphex generic buynoprescriptiononlinerxx.com over the counter   “I have a very small business teaching classes and sometimes use a local clubhouse as a venue. Some participants pay me directly; others pay the clubhouse.buy amoxicillin generic buynoprescriptiononlinerxx.com over the counter The clubhouse keeps 10% […]

Reporting Auction Income and the Tax Gap

FS-2007-23, Courtesy of IRS Many people don’t realize the income they earn from auctions and consignment sales may be taxable. This fact sheet, the 16th in the Tax Gap series, will help taxpayers better understand what income they are required to report and what deductions they may be entitled to take. The tax gap, or […]