Here’s a shocking stat: 17% of millennials are considering not filing taxes this year because they think there's less chance of being audited due to IRS job cuts.
In our latest episode of The Accounting Podcast, David Leary and I analyze this survey data point. We also examine IRS officials' claims that budget cuts will widen the tax gap by $500 billion.
Other stories include:
The real impact of audit rates on taxpayer compliance
How cities like Los Angeles, Chicago, and San Francisco are facing billion-dollar budget shortfalls
The embarrassing Tesla financial reporting retraction by the Financial Times that highlights GAAP complexity issues
Survey results showing the majority of Americans want free tax filing options
What tax professionals should focus on to attract clients who value accuracy over cost
Listen now to get our take on these critical issues affecting accountants and taxpayers alike.
