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Tax Gap Estimated At $381.5 Billion

David A. Sprecace, P.C.

The Department of the Treasury estimates that the net tax gap currently stands at $381.5 billion.  This amount is determined by taking the gross tax gap of $441.5 Billion and lowering it by the amount anticipated to be paid through voluntary payments and IRS enforcement activities, $60 Billion. 

According to the agency’s fiscal year 2021 Financial Report of the U.S. Government, released February 17, the gross tax gap is generally composed of three elements: non-filing ($39 billion), underreporting ($352 billion), and underpayment ($50 billion).

Individual income tax accounts for the majority of the net tax gap ($271 billion), followed by employment tax ($77 billion), and corporation income tax ($32 billion). The balance is made up of estate and excise tax ($1 billion).


Colorado Office
600 17th St #2800s

Denver, CO 80202

Client Reviews

Dave has ridden to our rescue on many occasions. It’s not that I try to get in trouble but Dave is always there to bail me out. Dave went toe-to-toe with the IRS over a several year legal battle. Nothing like having a...

- Russell and Lisa P.

My business partner and I hired Dave to represent us with an IRS tax audit of our company and individual tax returns. There were other family members and other businesses involved, and the IRS initially wanted more than...

- Mark M.

I called Dave to help me file several years of income tax returns. After the returns were filed, Dave filed an Offer in Compromise to get rid of the old taxes. The IRS accepted a small fraction of the original amount...

- Mike W.

When I needed to buy out my business partner, Dave told me of the possible pitfalls with the Operating Agreement, walked me through the entire process, helped me value the company, and make an offer. I was able to keep...

- Yvonne A.

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