The IRS just got $80 billion to beef up. A big goa
Post# of 123719
(Total Views: 172)
Posted On: 01/13/2023 10:55:54 PM
The IRS just got $80 billion to beef up. A big goal? Going after rich tax dodgers
August 14, 20225:00 AM ET
https://www.npr.org/2022/08/14/1117317757/irs...nforcement
The IRS is about to get a big infusion of cash.
As part of the massive climate and health care bill passed by the House on Friday, the tax collection agency is set to receive $80 billion over the next decade.
Some of that money will go to update decades-old computer systems at the Internal Revenue Service (IRS). And some is for improving customer service, including a taxpayer phone line where nine out of 10 calls go unanswered.
Most of the money, though, is for stepped-up enforcement — to help the IRS collect more of the estimated $600 billion in taxes that go unpaid every year, much of it owed by rich people who under-report their income.
"By beefing up the IRS's capacity to go after wealthy tax cheats, you're going to be able to collect at least $400 billion of that over the course of the next ten years, and I suspect substantially more," said Natasha Sarin, a counselor for tax policy and implementation at the Treasury Department.
August 14, 20225:00 AM ET
https://www.npr.org/2022/08/14/1117317757/irs...nforcement
The IRS is about to get a big infusion of cash.
As part of the massive climate and health care bill passed by the House on Friday, the tax collection agency is set to receive $80 billion over the next decade.
Some of that money will go to update decades-old computer systems at the Internal Revenue Service (IRS). And some is for improving customer service, including a taxpayer phone line where nine out of 10 calls go unanswered.
Most of the money, though, is for stepped-up enforcement — to help the IRS collect more of the estimated $600 billion in taxes that go unpaid every year, much of it owed by rich people who under-report their income.
"By beefing up the IRS's capacity to go after wealthy tax cheats, you're going to be able to collect at least $400 billion of that over the course of the next ten years, and I suspect substantially more," said Natasha Sarin, a counselor for tax policy and implementation at the Treasury Department.
(1)
(0)Scroll down for more posts ▼