How much money does the IRS spend in overhead trying to collect taxes?
More specifically, how much of every tax dollar is spent by the IRS to collect the income tax?
,,If wealthiest 2% spend 1/3 of the money how is Obamas tax increase going to help the economy? ,How will the IRS try to collect my back taxes? ,in california ,can i collect unemployment even if i owe back federal taxes? ,What law allows for the IRS to collect taxes from American’s income? ,What law allows for the IRS to collect taxes from American’s income? ,Comments (4)
they probably dont even know but i am sure its phenomenal… interesting thought because they probably spend more money than the actual pure tax they collect but then you figure the penalties and interest they collect must offset that amount someway
they wouldn’t have to use our tax dollars to collect back taxes if people would just pay the taxes they owe when they are due
The budget for the Internal Revenue Service works out to considerably less than one cent for every dollar collected.
Actually, the IRS collection costs are the envy of the debt collection industry. They have powers to attach wages, seize bank accounts and other assets without court orders that other debt collectors can only dream about. Their costs are around 1/10 of what the rest of the debt collection industry encounters as a portion of the debt recovered.