April 29, 2010 Seminar: The Impact of Tax Evasion on the Federal Budget

Panel:
Jack Blum, Tax Justice Network
James Henry, Economist, Tax Justice Network
Martin A. Sullivan, Economist, Tax Analysts
Guest Panelist, Internal Revenue Service (invited)

Thursday, April 29, 2010 5:45 p.m.
Conference room 483, Congressional Budget Office
2nd & D Streets, SW, 4th Floor, Washington, DC 20515
(Metro: Federal Center SW Station)

Light refreshments will be served. The seminar is free, but please e-mail Robena Reid at Robena.Reid@dot.gov for reservations.

The escalating Federal budget deficit has a direct impact on the financial health of the United States and its ability to finance and deliver vital government services with the magnitude of the national debt causing public distress. The ability to manage and reduce current and future federal budget deficits depends significantly on voluntary compliance and the efficiency and effectiveness of revenue collection efforts. The difference between what is owed to the federal government and what is collected by revenue authorities is informally known as the “tax gap” and fair and equitable revenue collection and enforcement strategies enhance public confidence and voluntary compliance.

Our panelists will discuss tax havens, corruption, money laundering, tax compliance and enforcement, and the interrelated roles of banks, lawyers, and accounting professionals. They will provide insights into how tax compliance can impact the budget, possible near-term solutions for tax compliance, and recommendations for additional proactive strategies.