1.0Bill Bourbonnais - Family Office Directorhttps://financialgravityfamilyofficeservices.com/bourbonnaiszachhttps://financialgravityfamilyofficeservices.com/bourbonnais/author/zach/The Reverse Tax Gap - Bill Bourbonnais - Family Office Directorrich600338<blockquote class="wp-embedded-content" data-secret="qqRp3dIzgA"><a href="https://financialgravityfamilyofficeservices.com/bourbonnais/family-office/the-reverse-tax-gap/">The Reverse Tax Gap</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://financialgravityfamilyofficeservices.com/bourbonnais/family-office/the-reverse-tax-gap/embed/#?secret=qqRp3dIzgA" width="600" height="338" title="“The Reverse Tax Gap” — Bill Bourbonnais - Family Office Director" data-secret="qqRp3dIzgA" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script>
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https://financialgravityfamilyofficeservices.com/bourbonnais/wp-content/uploads/sites/19/2023/08/The-Reverse-Tax-Gap.jpg1200628According to the IRS, the “tax gap is the difference between the estimated 'true' tax liability for a given period and the amount of tax that is paid on time.” The amount collected by the IRS includes billions of dollars in taxes that were overpaid due to mistakes and misunderstandings of the tax laws. As tax professionals, we are concerned about both of these gaps.