- Americans didn’t pay an estimated $688 billion in taxes due on their 2021 returns—the largest shortfall ever. Audits and other enforcement will be stepped up to reduce the gap, the Internal Revenue Service said Thursday.
- The number includes $542 billion due to underreported income, with the remainder of the shortfall owed by those who didn’t file returns when they should have or never paid their bills.
- The total gap is up more than $138 billion from estimates for tax years 2017 to 2019.
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Biden’s IRS Plans More Audits, Claims Taxpayers Underpaid By $688B In 2021
WASHINGTON, DC - APRIL 15: The Internal Revenue Service (IRS) building stands on April 15, 2019 in Washington, DC. April 15 is the deadline in the United States for residents to file their income tax returns. (Photo by Zach Gibson/Getty Images)
