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Analysis of Tax Gap for the Tax Year 1998 in Billions

Explore the Tax Gap map for 1998, detailing tax estimates, voluntary payments, underreporting, nonfiling, and more. Understand the breakdown of individual and corporation income taxes, employment tax, and estate tax. Gain insights into enforcement actions and late payments to IRS.

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Analysis of Tax Gap for the Tax Year 1998 in Billions

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  1. Good (Recent) Estimates Reasonable (Less Current) Estimates Weaker (Dated) Estimates TAX GAP MAP for Tax Year 1998 (in $ Billions). Tax Paid Voluntarily & Timely $1,534.9 (VCR = 84.5%) Total Tax Liability $1,816.4 Gross Tax Gap $282.5 (NCR = 15.6%) Enforced and Other Late Payments * $50.0 Tax Not Collected (Net Tax Gap) $232.5 Underreporting $218.5 Nonfiling $24.3 Underpayment $39.7 Individual Income Tax $119.6 Individual Income Tax $119.6 Corporation Income Tax 37.5 Employment Tax $57.9 Estate Tax $3.5 Excise Tax ? Individual Income Tax $24.2 Individual Income Tax $22.6 Corporation Income Tax $3.0 Corporation Income Tax ? Non-Business Income $30.6 Non-Business Income $30.6 Small Corporations (Under $10M) $5.9 FICA $11.5 Employment Tax $10.4 Employment Tax ? Business Income $65.3 Business Income $65.3 Large Corporations (Over $10M) $31.6 Self-Employment Tax $45.9 Estate Tax $2.0 * IRS will continue to collect late payments for TY98 for years to come. This category includes tax paid late by taxpayers without IRS enforcement action. For comparison, $24.0B of tax was collected solely through enforcement in FY2000. Estate Tax $1.7 Adjustments, Deductions, Exemptions $13.4 Adjustments, Deductions, Exemptions $13.4 Unemployment Tax $0.5 Excise Tax $0.1 Dup. TINs $0.4 Dup. TINs $0.4 Excise Tax ? Credits $10.3 Credits $10.3 EITC $7.8 EITC $7.8 IRS NHQ Office of Research 13 Feb 03

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