I.R.S. Backlogs Continue as Republicans Mount Offensive
The National Taxpayer Advocate expressed hope that better days were ahead for the tax collection agency.
The National Taxpayer Advocate expressed hope that better days were ahead for the tax collection agency.
House Republicans on Monday night voted to slash funding for the IRS, following a pledge from newly-elected Speaker Kevin McCarthy to repeal the money approved by Congress last year.
The measure, one of the new majority’s first legislative moves, would cut billions in funding that Democrats passed to help crack down on tax cheats. It does not have enough votes to pass the Senate
alliantgroup held its two-day Think Tank summit which is hosted by the company and its strategic advisory board of former congressional members, state officials, and U.S. business and industry association leaders.
The IRS should use some of the $80 billion allocated from the Inflation Reduction Act to help small and medium-sized businesses learn about their rights as taxpayers and about available business credits and incentives in the tax code
The Inflation Reduction Act recently signed into law by President Biden provides for $80 billion in increased IRS funding over ten years. This increased budget will provide for the hiring of tens of thousands of additional and replacement IRS employees.
Treasury Secretary Janet Yellen on Friday appointed Douglas O’Donnell as acting head of the IRS during a potentially transformative period for the agency.
David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week: now hiring.
With less than three weeks left in Charles Rettig’s term as Internal Revenue Service commissioner, President Biden hasn’t picked anyone to replace him, leaving the tax agency without a leader to spearhead the $80 billion agency expansion that Democrats just pushed through Congress.
The Internal Revenue Service finds itself flush with money, an unfamiliar position. Persistent operational problems at the agency and controversial enforcement provisions in the narrowly passed Inflation Reduction Act place the IRS under the microscope and in the middle of America’s rough-and-tumble politics.