to file (and PAY) taxes will be OVER in less than 24 hrs in most states!
We did our taxes last week but waited till Saturday to mail the checks. Do you wait till the last day? In my household, every year, we talk about getting this task done and over with as early as in February, but somehow checking and re-checking, making sure we are not overlooking anything (not so much on tax breaks because we have very simple taxes) but still making sure we are reporting everything lest we come on IRS’s bad side, drags us till the last date. Do you wait till the last minute too?
The tax-gaps run in billions every year. Just imagine the possibilities this huge sum could be spent towards: helping the poor, educating children and medicines for the elderly. Tax Gap as defined by IRS is “the difference between the amount of tax that taxpayers should pay and the amount that is paid voluntarily and on time. The tax gap can also be thought of as the sum of non-compliance with the tax law.”
Can people who are not paying the feds continue to hide like this? Should they be allowed to?