President Joe Biden is planning to ask for an additional $80 billion in the “American Families Plan” for the Internal Revenue Service (IRS) to boost their audit capabilities in order to crack down on tax evasion by high-earners and large corporations, according to reports.
Biden is planning to detail his “American Families Plan” this week and is set to propose giving the IRS more funds ($80 billion) in order to increase their auditing capabilities to crack down on tax evasion by high-earners and large corporations, according to a report by the New York Times. The plan is supposed to “be offset in part by a tax enforcement effort that the administration believes will raise an additional $700 billion over a decade.”
Two people familiar with the plan told the Times the $80 billion, along with more authority, will help over the next 10 years to crack down on tax evasion by high-earners and large corporations. In addition,