A new report from the Internal Revenue Service lays out a roadmap for the future and reveals that President Joe Biden’s 2025 budget would bar cuts to the IRS until 2034.
The report also noted that audits on what the IRS calls the “wealthiest taxpayers, large corporations and large, complex partnerships” will vastly increase when the IRS examines 2026 tax returns, according to a news release on the IRS website.
The Inflation Reduction Act gave the IRS an $80 billion infusion. That was trimmed by $20 billion last spring as part of the debt-ceiling negotiations.
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Since 2022, the IRS has added about 11,000 jobs and will pack in an additional 14,000 jobs by 2029, IRS Commissioner Danny Werfel said Thursday, according to CNN.
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