2022 – 08/18 The Inflation Reduction Act (IRA) provides about $80 billion over 10 years to fund the IRS and improve its “tax enforcement activities” and technology. The funds will be available to the IRS through Sept. 30, 2031. With the funds, the IRS plans to hire nearly 87,000 personnel to help with tax-law enforcement efforts to further close the tax gap. Treasury Secretary Janet Yellen, in a letter to IRS Commissioner Chuck Rettig, ordered that none of the resources, “including any new personnel or auditors that are hired,” go to auditing taxpayers under the $400,000 threshold at a rate beyond “historical levels.” Instead, “enforcement resources will focus on high-end noncompliance,” Yellen wrote.
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