A new study has found that the wealthiest one percent of Americans are dodging payment of taxes at a much higher rate than prior research had revealed.
According to the Wall Street Journal, the study, conducted by a team of Internal Revenue Service and academic researchers and economists for a working paper published by the National Bureau of Economic Research, found that the richest one percent of households fail to disclose to the IRS a full 21 percent of their income.
The researchers concluded that the amount of unreported income for the top 0.1% might be as much as twice as high as earlier research had indicated. Continue reading.