How large corporations evade taxes

There is a lot of news about how large corporations evade taxes. Businesses commit tax evasion the same way individuals do: they under-report income, overstate deductions, claim too many tax credits, and sometimes hide money through laundering or illegal accounting schemes.

The Tax Gap is the difference between how much the IRS should collect and how much it actually collects; in 2010, the Tax Gap was $458 billion.

Don't use plagiarized sources. Get Your Custom Essay on
How large corporations evade taxes
Just from $13/Page
Order Essay

However, small business owners are actually the largest single contributor to the Tax Gap. Before the recession, a quarter of sole proprietors reported losses; among those, 70% were estimated to be noncompliant.

  • Under-reporting of business income and self-employment tax by small business owners accounts for $190 billion, or 41% of the $458 billion Tax Gap.
  • Corporate under-reporting accounted for $41 billion or 9% of the Tax Gap.
  • Large corporations (whose assets exceed $10 million) accounted for $28 billion, or only 6.1% of the $458 billion Tax Gap.

In summary, small business owners and the self-employed under-reported $190 billion, over six and a half times more than the $28 billion under-reported by large corporations!

  1. After reading these statistics, do you find it surprising that small businesses are under-reporting income so much more than large corporations? 
  2. Explain why these figures may (or may not) surprise you.
  3. Why do you think small business owners are under-reporting so much more than the large corporations?
  4. Address these requirements with no less than 450 words.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
error: Content is protected !!
Open chat
1
You can contact our live agent via WhatsApp! Via +1 817 953 0426

Feel free to ask questions, clarifications, or discounts available when placing an order.

Order your essay today and save 15% with the discount code NERDY