Day: September 26, 2026

Up to $304B Lost to Tax Fraud, No IRS Anti-Fraud Strategy

The Center Square
Doing taxes

The federal government loses as much as $304 billion a year to tax fraud, and the IRS has no agency-wide strategy for stopping it, congressional auditors said in a report Friday.

The Government Accountability Office estimated annual losses at $116 billion to $304 billion, the first comprehensive federal estimate of tax fraud losses. Auditors used a Monte Carlo simulation drawing on IRS data from 2018 through 2024, potential fraud inside the tax gap and tax evasion in the shadow economy.

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Commentary: It’s Time to Tackle America’s $40 Trillion National Debt

Daily Caller News Foundation
congress spending

There is a reality we must acknowledge to begin moving toward national fiscal solvency and sanity — resources are finite. Accepting this fundamental fact is our Vince Lombardi moment to zero-in on the basics, just as his Green Bay Packers team did after he delivered his famous line, “Gentlemen, this is a football.” They then went on to win the NFL Championship that year.

Getting back-to-basics with our country’s finances means we first must deal with our unsustainable practice of borrowing $2 trillion each year to fill in the gap between spending $7 trillion while only bringing in $5 trillion. Adding $2 trillion to our debt annually over the last decade has quickly doubled our liability from $20 trillion in 2017 to $40 trillion now.

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