Hey ,

The IRS vows to increase service delivery while increasing its efficiency. The agency has been on record indicating its need to improve tax compliance.

While delivering the estimated tax gap, the agency said more needs to be done to prevent tax evasion.

IRS on the tax gap.

•          Taxpayers are not paying taxes as they should.
•      According to a recent IRS release, the tax gap is alarmingly growing.
•        The tax gap estimates for tax years 2014 through 2016 show the estimated gross tax gap increased to $496 billion
•          This is a rise of over $58 billion from the prior estimate.

The TAX GAP shows possible tax evasion. It is the difference between estimated taxes owed and the actual tax paid for a tax year.

What does this mean for you?

The IRS wants these billions of dollars in lost revenue. Therefore, they will be using additional money they received from the Biden Administration to increase surveillance and other tax compliance measures.

For this reason. You ought to stay safe by doing the following:

1.      Hire me to prepare your taxes and avoid mistakes
2.      Work with me throughout the year
3.     If you own a business, keep your bookkeeping and accounting up to date.

How to hire me?

If you need accounting, tax, and bookkeeping services, go to my Link Tree page and click the following:

•      For tax services – Want Me to File Your Taxes
•   For Accounting and Bookkeeping – Want Me To Be Your Accountant?

Hey Entrepreneur! I am Folasade Ayegbusi. I am an Enrolled Agent, Accountant, Ex-insurance Broker, Speaker, and Small Business Growth Strategist. Additionally, I am a Mother, and Entrepreneur.

I have helped entrepreneurs and small business owners save over $25 million dollars in lost revenue, tax assessments, penalties, and interests over the last 12 months. I am confident that I can assist you with all of your accounting needs.