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Showing Original Post only (View all)Biden proposes doubling IRS workforce as part of plan to snag tax cheats [View all]
Source: Politico
By BRIAN FALER
05/20/2021 12:20 PM EDT
Updated: 05/20/2021 01:35 PM EDT
President Joe Biden is proposing to double the size of the IRS, by hiring nearly 87,000 new workers over the next decade, as part of a sweeping plan to chase down tax cheats.
The hiring spree, part of a bid to increase IRS funding by $80 billion, would be phased in to give the department time to absorb the additional resources, the Treasury Department said in a report Thursday.
The agencys workforce would never grow by more than a manageable 15 percent each year. And its total budget would increase by about 10 percent annually.
At the same time, the administration wants to require financial institutions and other businesses to report a lot more information about the money coursing through their customers accounts a proposal designed to put the fear of the IRS in the hearts of tax scofflaws.
Read more: https://www.politico.com/news/2021/05/20/irs-funding-boost-489830