IRS chief says the wealthiest evade $150 billion in taxes every year

The wealthiest people are shorting the government $150 billion every year, according to IRS Commissioner Danny Werfel.

Werfel, speaking to CNBC, accused the country’s millionaires and billionaires of creating a “lack of fairness” in the tax system. He blamed the tax collection gap on a lack of funding for audits on the very wealthy, noting that the most complicated tax returns require more resources.

“When I look at what we call our tax gap, which is the amount of money owed versus what is paid for, millionaires and billionaires that either don’t file or [are] underreporting their income are $150 billion of our tax gap,” Werfel said. “There is plenty of work to be done.”

“We have to make investments to make sure that — whether you’re a complicated filer who can afford to hire
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