Economy

Economy

Economy

Follow coverage of the U.S. and global economy, jobs and unemployment; banking; interest rates and other decisions by the Federal Reserve (Fed) and Chair; and economic indicators such as the gross domestic product (GDP), factory orders and durable goods. Other topics include the federal budget deficit and national debt, and local economic columnist Jon Talton.

Tax cheats are costing the US $1 trillion a year, IRS says in sharply higher estimate

Internal Revenue Service Commissioner Charles Rettig appears before the House Committee on Oversight and Reform, Wednesday, Oct. 7, 2020 in Washington. (Toni L. Sandys/The Washington Post via AP, Pool) DCWAP420

The head of the IRS calculated that tax evasion in the U.S. may total $1 trillion a year, a figure that is multiples higher than previous estimates from the federal government.

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