entity

Internal Revenue Service

Also known as: IRS

Facts (10)

Sources

The Role of Taxation in Family Inequality: Possibilities for Reform ncfr.org National Council on Family Relations Dec 20, 2024 5 facts

claimLow-income families and Black families are disproportionately audited by the Internal Revenue Service (IRS), despite the existence of race-neutral audit selection processes.

claimThe Internal Revenue Service (IRS) subjects tax returns claiming the Earned Income Tax Credit (EITC) to additional scrutiny, which contributes to audit disparities for Families of Color, particularly Black families who may encounter complex filing scenarios involving multiple family members in caregiving roles.

perspectiveThe National Taxpayer Advocate (NTA) recommends updating tax rules to allow primary carers to claim the EITC and Child Tax Credit (CTC) based on caregiving responsibilities, rather than the residency, income, support, and relationship tests currently used by the IRS.

claimTaxpayers selected for an IRS audit may incur fines and tax debt if they do not know how to respond to the audit process, even if their tax returns are fairly accurate.

claimThe Internal Revenue Service (IRS) subjects tax returns that claim the Earned Income Tax Credit (EITC) to additional scrutiny, which contributes to audit disparities.

5.16: The Role of Tax Policy - Social Sci LibreTexts socialsci.libretexts.org LibreTexts Jul 30, 2024 3 facts

claimThe Internal Revenue Service defines the 'tax gap' as the difference between the amount of federal taxes Americans owe and the amount they actually pay.

measurementIn January 2012, the Internal Revenue Service estimated the 2006 tax gap to be $450 billion initially, which was reduced to $385 billion after late tax payments and enforcement efforts.

measurementIn 2012, the Internal Revenue Service had 3,000 fewer employees working in enforcement than it had in 2010, a reduction attributed to budget cuts in 2011.

The Evolution of the U.S. Intelligence Community-An Historical ... govinfo.gov U.S. Government Publishing Office 1 fact

accountThe Church Committee investigated CIA domestic activities, covert activities abroad (including alleged assassinations of foreign leaders), alleged abuses by the Internal Revenue Service and the FBI, alleged domestic spying by the military, and alleged interceptions of U.S. citizens' conversations by the National Security Agency.

How the Government Subsidizes Wealth Inequality americanprogress.org Center for American Progress Jun 25, 2014 1 fact

procedureWhen a recipient of a gifted asset does not know the donor's original basis, the Internal Revenue Service (IRS) attempts to determine the basis by inquiring with the donor or other knowledgeable parties, or by estimating the fair market value of the asset at the time the donor originally acquired it.