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In the US we have a pay-as-you-go tax system, meaning we pay taxes as we earn money. That is why tax money comes out of
In the US we have a pay-as-you-go tax system, meaning we pay taxes as we earn money. That is why tax money comes out of your paycheck each time you get paid instead of the IRS waiting till the end of the year to make you pay. Despite the pay-as-you-go procedures required by the IRS, millions of dollars in taxes go uncollected each year. Why do you think this is? Describe what type of collection procedures you would propose to the IRS in order to minimize the amount of uncollected taxes each year.
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