Hi Amanda, I enjoyed reading your post. I agree with you that “An objective that should be the same for corporations and individuals is to comply with tax law. Tax compliance needs to be done regardless of what type of entity you are”.
Many taxpayers don’t believe me when I say that that our tax system is based on voluntary compliance supported by enforcement[ CITATION Pro21 \l 1033 ]. It doesn’t feel voluntary to them.
They just focus on the enforcement. In my experience many individuals and businesses struggle with tax compliance. From the IRS’s perspective individuals and businesses who are notcompliant due to not filing their tax returns or do not timely pay their taxes contribute to the Tax Gap.
“Tax Gap is the amount that is owed by taxpayers before collections from IRS enforcement actions and is estimated to be $458 billion annually.
https://www.solvedcollegepapers.com/product/acct-311-acct311-acct-311-tax
https://www.solvedcollegepapers.com/product/acct-311-acct311-acct-311-wxa
