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Uncollected funds top IRS priority.


Correcting the Internal Revenue Service inefficiencies that have led to an increase in unpaid federal taxes is the agency's top priority, IRS Commissioner Fred Goldberg said. Testifying before the House Appropriations Subcommittee on Treasury, Postal Service and General Government, Goldberg said he hoped better management and modernization would allow the agency to begin closing the tax gap.

"Our income tax system as we know it is at the crossroads," he said. "Our greatest challenge of the coming decade is to make the system more workable."

While the IRS has estimated its accounts receivable inventory at about $87 billion, Goldberg told the subcommittee it actually could be as high as $100 billion. Adding in untaxed illegal activities could bring uncollected revenues to $150 billion.
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Publication:Journal of Accountancy
Date:May 1, 1990
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