IRS funding battles loom large in September - POLITICO

Jul 31, 2023 · The Sept. 30 deadline to fund the government is fast approaching, yet Congress left town last week for August recess having achieved little headway on a slew of …

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

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Jan 9, 2024 · “The IRS funding reduces wealthy tax cheating and raises revenue,” said Marr. “We’re already seeing great results. And remember: cutting IRS funding does not save money. …

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Will More IRS Funding Mean More Audits? | Taxes | U.S. News

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May 21, 2024 · IRS funding, in real terms, dropped 18% from 2010 to 2021, according to a 2024 supplement to the IRA Strategic Operating Plan. ... Audits Target Large Businesses, Wealthy …

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

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6 days ago · At the same time, there had been a seven-year freeze on hiring, which, combined with a lot of IRS employees reaching retirement age, really led to a 20% reduction in overall …

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IRS Releases Long-Awaited Spending Plan For $80 Billion In New ...

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Apr 11, 2023 · On Thursday, April 6, the Treasury Department and Internal Revenue Service (IRS) issued their long-term Strategic Operating Plan (SOP), outlining how the IRS intends to …

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FAQs about IRS funding battles loom large in September - POLITICO Coupon?

What if IRS appropriations funding is chipped away further?

IRS Commissioner Danny Werfel has cautioned that if IRS appropriations funding is reduced further, the agency may have to use the tax-and-climate law funds just to stay afloat. Republican lawmakers have made multiple attempts to redirect the funding set aside for the IRS in the tax-and-climate law toward other domestic programs. ...

What will the IRS do in September?

According to the article, by the end of September, the IRS will start examining 75 of the largest partnerships such as hedge funds, real estate investment partnerships, large law firms and others. They will harness artificial intelligence to identify potential compliance failures in partnership tax, international tax and general income tax and accounting. ...

Will cutting IRS funding save the government money?

Some Republicans argue that taking back some of the IRS funding will save the government money. But the independent Congressional Budget Office and other budget experts have said that the reverse is true. Cutting IRS funding would hamper the agency’s enforcement efforts and could lead to fewer audits of tax cheats. ...

Will taking back IRS funding save the government money?

Former President Donald Trump, the current front-runner in the 2024 GOP presidential race, initially proposed cutting funds from the IRS during his first year in office, but he proposed modest increases in following years. Some Republicans argue that taking back some of the IRS funding will save the government money. ...

Will the IRS get billions for audit enforcement?

The IRS is set to get billions for audit enforcement. Here’s what it means for taxpayers Link Copied! The Internal Revenue Service is finally about to get the additional funding its officials have long been waiting for. The Democrats’ Inflation Reduction Act calls for delivering nearly $80 billion to the IRS over 10 years. ...

Will the IRS be gutted if a government shutdown is looming?

The deal is a key first step to avoid a looming, partial government shutdown, but plenty of work remains before lawmakers reach a broader deal on a final 2024 spending bill. Meanwhile, Republican presidential candidates Ron DeSantis and Vivek Ramaswamy have suggested they would gut the IRS, along with some other federal agencies. ...