Congress proceeds with $20B cut to IRS modernization fund in FY …

Mar 21, 2024 · The agency still has roughly $60 billion to meet its modernization goals. The Biden administration agreed to these IRS cuts, as part of a deal with congressional Republicans last …

CouponFollow Extension

$20
OFF

Congress Proceeds With $20B Cut To IRS Modernization Fund In FY …

6 days from now

Mar 21, 2024 · The agency still has roughly $60 billion to meet its modernization goals. The Biden administration agreed to these IRS cuts, as part of a deal with congressional Republicans last …

federalnewsnetwork.com

$20
OFF

IRS Faces $20B Cut From Modernization Fund Under Debt Ceiling …

6 days from now

May 29, 2023 · The IRS is facing substantial cuts to funds meant to rebuild its workforce and modernize its legacy IT systems over the next decade, as part of a deal to raise the debt …

federalnewsnetwork.com

$20
OFF

IRS Faces $20B Cut From Modernization Fund Under Debt Ceiling …

6 days from now

The Biden administration and Republican lawmakers are prepared to cut $20 billion from funds the agency received in the Inflation Reduction Act — about a quarter of the nearly $80 billion …

taxconnections.com

$20
OFF

Latest Federal Budget Includes $20 Billion Rescission For IRS

6 days from now

Mar 26, 2024 · The IRS has used Inflation Reduction Act enforcement dollars to focus on high-income groups by serving notices to 125,000 people who have not filed a federal income tax …

journalofaccountancy.com

$20
OFF

Congress Axing $20 Billion Of IRS Modernization Funding

6 days from now

Mar 22, 2024 · The $1.2 trillion worth of spending bills released earlier in the week by the House and Senate Appropriations committees would cut $20.2 billion from the previously approved …

meritalk.com

$21
OFF

Proposed Debt Ceiling Deal Would Cut $21.4 Billion In IRS Funding

6 days from now

May 30, 2023 · The proposed debt ceiling deal may include up to $21.4 billion in IRS budget cuts. Here's what it means for taxpayers.

cnbc.com

$1
OFF

IRS Funding Cuts Accelerated In FY 2024 $1.6T Spending Deal

6 days from now

Jan 9, 2024 · That framework refers to debt ceiling negotiations between Republicans, Democrats, and the Biden administration. Last summer, Biden and then-Speaker Mike …

thomsonreuters.com

$21
OFF

Bipartisan Senate Action Passes Minimal Test For IRS Funding …

6 days from now

Jul 20, 2023 · The effect of the $21 billion cut from the debt limit agreement would come later in the decade: the IRA’s $80 billion was intended to last for ten years, so the cut would …

cbpp.org

$80
OFF

Key IRS Funds Dry Out In 2026. What Can We Expect For Its Future?

6 days from now

6 days ago · How great was the need for the $80 billion the IRS did receive under the Inflation Reduction Act? HOLTZBLATT: The need was incredible. Over a decade or so, the IRS's …

npr.org

$20
OFF

IRS Hiring 3,700 Enforcement Agents ‘doable,’ If It Learns From Past ...

6 days from now

Sep 18, 2023 · Greenwald said that direct hire authority allows the IRS to cut the lengthy federal hiring process roughly in half — from about six months to 90 days. ... IRS faces $20B cut from …

federalnewsnetwork.com

FAQs about Congress proceeds with $20B cut to IRS modernization fund in FY … Coupon?

Will the IRS raise the debt ceiling in 2023?

A tentative deal to raise the debt ceiling limit includes up to $21.4 billion of IRS budget cuts, which could impact the agency's ability to have its funding increased in 2023. These cuts would come from the nearly $80 billion in IRS funding enacted last August to boost taxpayer service, technology and enforcement. ...

Will the IRS raise the debt ceiling?

The IRS is facing potential budget cuts of up to $21.4 billion as part of a proposed deal to raise the debt ceiling limit. The bipartisan bill rescinds nearly $1.4 billion of the money allocated to the IRS and another deal would repurpose $20 billion for fiscal years 2024 and 2025, meaning the IRS will not have its funding for the debt ceiling increased. ...

Will Congress reverse the $20 billion cut to IRS funding?

Register today! Despite approving this deal, the Biden administration is asking Congress to reverse the $20 billion cut to IRS funding, as part of its 2025 budget request. Congress plans to keep the IRS at current funding levels for the rest of the year with a $12.3 billion annual budget for its day-to-day operations. ...

Will the IRS cut $10 billion in a fiscal 2024 spending deal?

Lawmakers plan to cut $10 billion in funds the IRS got in the Inflation Reduction Act, in a spending deal for the rest of fiscal 2024. Congress is looking to make good on its promise to cut to the Internal Revenue Service’s multi-year modernization funds — as part of a bipartisan deal made last year. ...

Why did Biden cut the IRS?

The agency still has roughly $60 billion to meet its modernization goals. The Biden administration agreed to these IRS cuts, as part of a deal with congressional Republicans last year to raise the debt ceiling and avoid an unprecedented default on the federal government’s debts. ...

Will IRS funding cuts impact debt limit bill?

Rep. Richard Neal of Massachusetts, the top Democrat on the House Ways and Means Committee, said he spoke with the Treasury about the impact of the debt limit bill’s IRS funding cuts: “I came away, if not happy, at least satisfied.” ...