1. Short title This Act may be cited as the IRS Enhancement and Tax Gap Reduction Act of 2020 . 2. Findings Congress finds the following: (1) According to the Office of the Taxpayer Advocate, the difference between tax liabilities owed to the Internal Revenue Service and those liabilities actually collected by the IRS, known as the tax gap , averaged roughly $381,000,000,000 annually in unpaid taxes from 2011 to 2013. (2) Recent studies project that the tax gap will be a cumulative $7,500,000,000,000 between 2020 and 2029. (3) Individual income taxes are the largest group of uncollected taxes before audits, rep­re­sent­ing about $314,000,000,000. (4) Estimates suggest that at least 70 percent of the tax gap comes from underpayment by the top 1 percent. (5) In 2011, more than 12 percent of individuals making $1,000,000 or more annually were audited. In 2018, only 3.2 percent of such individuals were audited. (6) For the eighth year in a row, IRS tax enforcement declined. The IRS audited 0.45 percent of personal income-tax returns, the lowest level in at least four decades. (7) Individuals are about half as likely to be audited now compared to 2010. (8) Audit rates for those making $10,000,000 or more have fallen from more than 14 percent in 2017 to roughly 6.5 percent in 2018. (9) Over the course of the past decade, the number of income tax returns has increased by roughly nine percent. (10) Businesses are being audited at a rate of 1.6 percent, a near record low. The IRS had set a target of 2.2 percent. (11) Audit rates for the largest corporations in 2011 were more than 90 percent. Now, they are closer to 50 percent. (12) Business taxes in 2019 are on track to be the lowest portion of Federal revenue on record, accounting for 3.5 percent of all Federal tax revenue through the third quarter of 2019. (13) In 2010, corporate taxes accounted for 9 percent of Federal revenue. (14) The Tax Cuts and Jobs Act has pushed business taxes to record lows, and, according to the Institute on Taxation and Economic Policy, 91