IRS To Invest $80 Billion In Workforce And Technology To Improve Tax Enforcement
The IRS has said it will allocate around $8.64 billion from the new funding between 2023 and 2024, with 8,782 new hires being part of the enforcement staff. This will help the IRS enforce tax laws more effectively and efficiently and ensure taxpayers comply with their obligations.
US Deputy Treasury Secretary Wally Adeyemo has stated that the IRS will hire more data scientists than ever before for enforcement purposes. This will allow revenue agents and traditional tax attorneys to utilize new data analytics technologies, which will help to identify audit targets.
The report also reveals that the IRS will continue adding new customer service employees and will hire 13,883 full-time equivalent staff over the next two years. This aims to improve customer service and ensure taxpayers receive the help they need to meet their obligations.
The $80 billion in funding will also help to rebuild audit capability and replace old computer technologies with new ones. This is crucial in ensuring that the IRS is able to keep up with the fast-paced world of technology and that its infrastructure is up-to-date and secure.
