Is an Army of New IRS Agents Coming for Your Tax Dollars?
President Biden recently signed the Inflation Reduction Act, a sweeping energy, tax, and healthcare law that is partly designed to reduce the deficit. The legislation includes $80 billion in increased IRS funding over ten years. The idea is that the funds could help improve tax compliance, which in turn, could bring in an estimated $203 billion in increased revenue. It’s too early to know what the impacts will be. But you may have heard some lawmakers say that because of the new law, an “army” of 87,000 new IRS agents will be coming to audit ordinary taxpayers.
As is often the case involving
