rewind: A look back at GFR in June 1990.
Position | REWIND |
One way to improve revenues is to collect more of the taxes the government is owed. The idea isn't to "nickel and dime" residents by aggressively going after small amounts they can't afford, but to convince them to pay their fair share.
The June 1990 issue of GFR tackled the underground economy of off-the-books economic activity in New York City. The campaign started in December 1986 and aimed to recover part of the estimated $1 billion this kind of tax fraud was costing the city annually.
The plan was straightforward, giving the Department of Finance additional tax auditors, investigators, collection agents, and support staff to initiate new enforcement projects or to enhance existing projects with new sources of information. The project would focus on unreported income from legitimate activities where the tax evasion of individuals or businesses was so blatant that it would allow for successful prosecution (leaving the illegal sector--drug sales, prostitution, illegal gambling--to the police).
The underground economy program was made up of three...
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