The Losses Keep Mounting
More than $8.4 billion a year is lost to Construction Industry Tax Fraud! Watch the losses climb, from Jan. 1, 2017 to now.
A crime wave of tax fraud is flooding the construction industry. Cheating contractors use underhanded schemes, labor brokers, shell companies, shady bank accounts and check-cashing stores to evade their legal obligations. They fail to deduct and pay employment-related federal and state taxes, to the tune of $8.4 billion a year.
It gets worse. Because of wage theft, low pay and illegal employment practices, 39 percent of construction worker families must rely on public assistance programs to make ends meet. This costs federal and state taxpayers $28 billion a year.
The tax funds that are lost could be used to provide pandemic relief, build schools, improve roads, fund police and fire departments, and help veterans.
Working families, honest businesses, city, state and federal taxpayers —
We are all getting ripped off!
Click here to see a report on fraud in the construction industry.