The richest 1 percent dodge taxes on more than one-fifth of their income, study shows

The richest Americans are hiding more than 20 percent of their earnings from the Internal Revenue Service, according to a comprehensive new estimate of tax evasion, with the top 1 percent of earners accounting for more than a third of all unpaid federal taxes.

That’s costing the federal government roughly $175 billion a year in revenue, according to the findings by a team of economists from academia and the IRS.