“Egregious employment tax noncompliance” by employers has risen
substantially in recent years while the IRS’s ability to recover the
lost revenues and investigate fraud and embezzlement has fallen, a report
by the Treasury Inspector General for Tax Administration (TIGTA) finds.
More than 1 million employers owed over $45 billion in unpaid
employment taxes as of December 2015, including interest and penalties.
The report provides further evidence that the deep cuts to IRS funding
since 2010 have weakened the agency’s ability to perform its core functions of collecting taxes and enforcing the nation’s tax laws.
This type of employer tax evasion is particularly harmful; it not
only reduces federal revenues but it also hurts workers because
employers often don’t report their earnings to the IRS and Social
Security Administration. That makes it hard for employees and their
families to claim the benefits they’ve earned when they retire, become
disabled, or die and leave dependents behind. ...
The "employment tax" they're talking about is F.I.C.A., the tax that goes to the Social Security trust funds.
1 comment:
How many self insured employers got to get away with not paying their share of FICA via the states SSI program for those who actually applied for SSDI but were intentionally put on SSI by the SSA? How many billions has the SSA saved for these employers from paying out on these employers FICA taxes?
There out to be an audit as to how and why the SSA was allowed the "theft" of FICA taxes from self insured employers ( to the beneficiaries) to this unknown amount of money that just increases the SSA bottom line.
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