Another $80 Billion to the IRS What That Means for Your Taxes

The Final tax report came just as Congress passed the Inflation Reduction Act, and it discussed the bill’s proposed new $80 billion in Internal Revenue Service funding. More than half of the new dollars are spent on new tax enforcement, especially audits for high-income taxpayers, while the rest goes to improving operations, technology and human services. taxpayer.

Now the bill is the law, signed by President Biden on August 16. Although the details have changed, the new $80 billion IRS grant has survived and been in use for more than a decade. Law advocates who have long been complains that IRS deductions are too erratic to overcome basic problems such as technology from the 1960s, satisfied with stable financial resources.

Source link


News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button