Discussion Question $28-3($LO$.1)$

Recently, a politician was interviewed about fiscal policy where she mentioned reducing the "tax gap."

a$.$ Indicate whether the following statements are "True" or "False" regarding the tax gap.

The tax gap is the difference between how much tax is collected and how much Congress requires to be collected.

The tax gap is the difference between actual Federal income tax collections and the amount the IRS projects should be collected if there is full compliance with all income tax laws.

b$.$ There are pertinent political and economic issues relative to the tax gap.

Complete the items below concerning the tax gap:

Estimates of the tax gap. $$ from $$441$ billion to $$1$ trillion per year.

What means could be employed to reduce the gap? Hire more personnel.

Excessive $$ activity could result in the public's reaction $q,$

Shouldn't the government attempt to close the tax gap and thereby eliminate most of the $?$