If you worked in any of these countries, you could be due a Tax Refund

Closing the Tax Gap

#TaxTipsUSA #TravelTipsUSA

Each tax season ends with billions of tax dollars due, but unpaid. It’s the tax gap, the IRS nightmare, and it totals an average of 14% of payable taxes. While this may seem a lot, other countries get that even worse at tax compliance: Austria  74.80%, France  75.38%,  Germany  67.72%,  Netherlands  72.84%,  Portugal  68.09%,  United Kingdom  77.97%.

There is a close relation between tax rates and tax compliance. The higher the rate, the more likely are taxpayers to want to evade tax. Normally, a system that is accepted as fair, receives better compliance, but never 100%.

As Obama moves towards increasing taxes for higher earners, non-compliance numbers are expected to soar. While this may seem socially fair, the plummeting compliance rates with high earners may still have mid to low earners pay the bill.