Connecticut should heed a little-noticed provision in the newly-enacted federal Inflation Reduction Act [IRA] to address the challenge of raising revenue for essential government-funded programs without raising taxes.
The new federal provision aims to reverse the decades-long weakening of the enforcement capabilities of the Internal Revenue System [IRS] to better enable the IRS to close the estimated $600 billion annual “tax gap” between taxes legally owed and taxes actually paid.
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