Increase IRS Funding for FY 2014 now
Some members of Congress are advocating the IRS budget be cut by $3 billion. Are they irrationally responding to the bad behavior of some members of the IRS or are they insane, stupid, or just plain ignorant? I don’t know but their recommendation is economically illogical. We have a tax gap of $450 billion per year. If half is collected, that substantially decreases our deficit. We only audit 12% of the over $1,000,000 income returns and generate over $4 billion. We only audit 3% of the $200,000 to $1,000,000 returns and generate nearly $3 billion. Each dollar spent on these paper and field audits generates many more additional dollars for the US Treasury. Give the IRS more budget dollars in FY 2014 and subsequent years (we estimate $3 billion more) and help solve the deficit problem. Insure everyone pays their fair share.
Sam Allen
