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IRS Plans To Revamp Agency With $80 Billion Funding And 7,000 New Auditors

Internal Revenue Service ( Photo: Kiplinger )

The proposed plan involves spending the $80 billion Congress allocated last year to make changes to the agency.

Internal Revenue Service

Internal Revenue Service ( Photo: FCW )

The Internal Revenue Service (IRS) has announced its plan to revamp the agency, just ahead of the April 18 deadline to file federal income taxes

The IRS aims to hire over 7,000 new auditors within the next two years to help enforce tax laws and audit more wealthy individuals and corporations.

The plan for the agency’s makeover comes after years of budget cuts and staff reductions that have hindered its ability to enforce tax laws effectively. The new auditors are expected to help the agency target those who are not paying their fair share of taxes, especially those with high net worth.

According to IRS Commissioner Chuck Rettig, the proposed changes will help the agency increase compliance with tax laws and improve services to taxpayers. The agency is also expected to improve its technology and modernize its operations to increase efficiency and effectiveness.

The plan has received support from some lawmakers, who believe that the IRS needs more resources to enforce tax laws properly. However, others have expressed concerns about the agency’s ability to hire and train a large number of new auditors quickly and effectively.

The IRS has faced criticism in recent years for its handling of tax evasion cases involving wealthy individuals and corporations

The agency has been accused of being too lenient on those who are not paying their fair share of taxes and not doing enough to enforce tax laws.

Overall, the proposed plan for the IRS’s makeover aims to address these concerns and improve the agency’s ability to enforce tax laws effectively. The $80 billion in funding provided by Congress last year is expected to help the agency achieve these goals and make significant progress in the next few years.

READ ALSO: Low-Income Americans Feel Guilt About Not Paying Enough Taxes, Survey Finds

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