Biden to request extra $80B for IRS to enhance tax

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The White House estimates beefing up IRS enforcement could generate as much as $780 billion

President Biden is expected to propose boosting funding for the Internal Revenue Service by an extra $80 billion as part of a sweeping plan to crack down on tax evasion by wealthy Americans and large corporations.

The New York Times reported Tuesday morning the 10-year-funding measure will be accompanied by new enforcement powers for the IRS, including disclosure requirements for people who own businesses that are not organized as corporations and for other high-income earners who could be shielding their income from the government.

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