WebAug 29, 2024 · Of the $80 billion windfall the IRS will rake in from the Inflation Reduction Act, just $3.2 billion — or 4% — will be spent on improving taxpayer service. In contrast, $46 billion — or... WebAug 17, 2024 · The $80 billion over a decade will be a substantial infusion for an agency that had a budget of $13.7 billion in 2024. Ms. Yellen directed the agency to draft the plans …

The IRS Thinks Big About How To Spend $80 Billion

WebAug 6, 2024 · The bill, known as the Inflation Reduction Act, would put $80 billion toward beefing up the IRS, in line with liberals’ long-term goals to strengthen tax collection and … Web1 day ago · The Inflation Reduction Act included $15 million to study creation of a free IRS tax-filing website that would essentially do what Sweden does. But, as Business Insider … phone directory bellingham wa

Here’s how the IRS will spend its $80 billion funding boost

WebAug 11, 2024 · Buried in last year’s Treasury report on its compliance agenda was a projection that if the IRS got an additional $80 billion its workforce would increase by 86,852—or nearly double—by 2031. That’s a really precise number to include in a government report without explaining where it came from. But the hires won’t just be auditors. WebApr 13, 2024 · The Inflation Reduction Act increased the IRS budget by roughly $80 billion over 10 years. ... Within the first two months of 2024, the IRS had spent around $850 million of the total $80 billion in new funding. However, of that $850 million, $426 million was new funding for services. That accounts for over 10 percent of the initial $3.2 billion ... WebApr 14, 2024 · By 2031, CBO projects, the proposal would make the IRS’s budget more than 90 percent larger than it is in CBO’s July 2024 baseline projections and would more than … phone directory bristol