How AI can close America's trillion dollar tax gap - The Hill

Dec 21, 2024 · The views expressed by contributors are their own and not the view of The Hill How AI can close America’s trillion dollar tax gap by Josh Sandler, opinion contributor - 12/21/24 1:00 PM ET ...

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How AI Can Close America's Trillion Dollar Tax Gap

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Dec 21, 2024 · The debt now exceeds $36 trillion, more than the combined debt of over 170 other countries around the world. Millions see Elon Musk and Vivek Ramaswamy as governmental …

politomix.com

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U.S. Treasury's AI Is Catching Tax Cheats And Saving Billions

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Nov 4, 2024 · Treasury reports it “disburses approximately 1.4 billion payments valued at over $6.9 trillion to more than 100 million people annually.” ... How the government uses AI . The …

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Can The U.S. Fix Its $35-Trillion Debt? Artificial Intelligence May ...

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Oct 23, 2024 · The United States is staring down a $35 trillion debt crisis, and the challenge ahead is daunting. Public debt has risen substantially over the last few decades, a trend …

voiceforchangefoundation.org

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Attention DOGE: Here’s How The Federal Government Spends …

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15 hours ago · As the co-heads of the newly created Department of Government Efficiency, or DOGE, billionaires Elon Musk and Vivek Ramaswamy are promising to slash at least $2 trillion …

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For Microsoft, The OpenAI Tumult Is ‘heads I Win, Tails You Lose’

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Dec 22, 2023 · To understand how we got here, look back to July 2019, when Microsoft made its first large investment of $1 billion in OpenAI. About half of this investment came in the …

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FAQs about How AI can close America's trillion dollar tax gap - The Hill Coupon?

Could artificial intelligence help close the tax gap?

Hundreds of billions of dollars are potentially missing from what should be collected in taxes each year. Known as the “tax gap,” this money is the difference between what is owed and what is paid by taxpayers. The tax gap has been a problem for decades and it is growing larger. IRS’s use of artificial intelligence may help close the gap. ...

Can AI solve the tax gap?

Closing the tax gap would not only fund the entire annual interest on the U.S. debt, but would allow for tax cuts to all Americans. AI-powered solutions can be pivotal in making this happen. At the root of this crisis is our tax system: Well over 100,000 pages of incomprehensible tax code. Complexity isn’t just a burden — it’s a systemic flaw. ...

Should we close the tax gap by modernizing the IRS?

Closing the tax gap by modernizing the IRS isn’t just a financial imperative, it’s an opportunity to restore trust in our institutions. What we need is clear: a tax system aligned with Musk and Ramaswamy’s vision for the Department of Government Efficiency (“DOGE”), one that cuts bureaucracy, ensures fairness and reflects our nation’s values. ...

Can technology help close the tax gap?

By fully embracing similar technologies, the United States could make huge progress in closing the tax gap and recovering a big portion of the $1 trillion lost annually. Ninety-three percent of Americans agree that paying taxes is a civic duty. In today’s hyperpolarized environment, few issues unite the country like this. ...

Should Denmark close the tax gap?

In Denmark, the tax gap is less than 2 percent of revenue. In the U.S., it nears a staggering 20 percent. This disparity is not only damaging; it’s avoidable. Closing the tax gap would not only fund the entire annual interest on the U.S. debt, but would allow for tax cuts to all Americans. ...

How much debt does the US government have?

Fixing the U.S. government’s finances has rightfully become one of the most critical tasks in politics today. The debt now exceeds $36 trillion, more than the combined debt of over 170 other countries around the world. ...