• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Street Talk Live

News & Lifestyle Magazine

  • Home
  • About
  • Travel
  • Business
  • News
  • Money
  • House
  • Lifestyle
  • Marketing
  • Blog
  • Contact

The IRS 2018-2020 Strategic Plan clearly outlines the IRS’ priorities relative to mitigating the current tax gap. The experts at Optima Tax Relief review why the current tax gap is a top priority for the IRS according to its recently released strategic plan.

March 17, 2020 by Tristan Leave a Comment

Facebook0Tweet0Pin0LinkedIn0Print0

The recent release of the IRS’s 2019 Annual Fiscal Report and Strategic Plan outlines the strategic priorities and initiatives of the Internal Revenue Service through 2022. Through this plan, the IRS has shared its vision of enhancing the taxpayer experience with its broad community of American taxpayers. The plan clearly outlines six distinct strategic goals that will serve as the roadmap for translating their vision into practice for all American taxpayers. The experts at Optima Tax Relief reviews how one of the key pillars of the plan is related to the current tax gap, and why mitigating the tax gap is a top priority for the IRS.

The second goal of the Strategic Plan is to protect the integrity of the tax system by encouraging compliance through administering and enforcing the tax code. Because our tax system is based on voluntary compliance, the tax gap is closely monitored and measured by the IRS. Even with the IRS’s robust processes for tax enforcement, through this goal, the IRS will continue to identify and implement innovative methods for identifying – and ultimately resolving – noncompliance contributing to the tax gap. Through leveraging behavioral insights, the goal of the IRS is to design and implement programs to encourage voluntary compliance.

The latest tax gap estimate released by the IRS in 2019 identified the updated tax gap at $441 billion and projects that approximately $60 billion of the tax gap will eventually be paid by non-compliant taxpayers, resulting in a net tax gap of $381 billion.

The six strategic goals outlined in the 2019-2022 plan outline the IRS’s strategic priorities and will serve as the guiding principles to move the IRS forward over the coming years. Click here to read the full IRS 2018-2022 Strategic Plan.

Sponsored Content

 

Facebook0Tweet0Pin0LinkedIn0Print0

Filed Under: Blog

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

About Us

Welcome to Street Talk Live, I’m Tristan and I hope you find the information I blog about useful. I love to travel and explore the world. I believe it is important to learn about other cultures and keep up to date with the latest news in the world. Read More…

Recent Posts

  • What SXS Parts and Accessories Are Worth Upgrading?
  • 6 Exercises That Are Better With Dogs
  • 10 2021 Business Trends All Business Owners Should Be Aware Of
  • 6 Handy Tips for Moving With Your Dog
  • How to force restart iPhone 12

Newsletter

Facebook

Street Talk Live

Let’s Connect With Us

  • Facebook
  • Google+
  • Instagram
  • Twitter

Footer

About Us

Welcome to Street Talk Live, I’m Tristan and I hope you find the information I blog about useful. I love to travel and explore the world. I believe it is important to learn about other cultures and keep up to date with the latest news in the world. Read More…

Recent Post

  • What SXS Parts and Accessories Are Worth Upgrading?
  • 6 Exercises That Are Better With Dogs
  • 10 2021 Business Trends All Business Owners Should Be Aware Of
  • 6 Handy Tips for Moving With Your Dog
  • How to force restart iPhone 12
  • Top 6 Reasons for Staying at a Hobart Casino Hotel
  • What It Means To Get Your Child School Ready
  • Harmony: Find a balance in your social media engagement
  • Why Must Seniors Consider Buying a Burial Insurance Policy?
  • Natural Choice: Why I Decided To Switch To Rain Renewal Eye Drops

Facebook

Street Talk Live

COPYRIGHT 2018 · Street Talk Live

Copyright © 2021 · News Pro on Genesis Framework · WordPress · Log in