IRS To Invest $80 Billion In Workforce And Technology To Improve Tax Enforcement

Key Points:

• The IRS will allocate $8.64 billion from new funding between 2023 and 2024, with 8,782 new hires being part of the enforcement staff.
• They will hire more data scientists for enforcement purposes to utilize new data analytics technologies, helping to identify audit targets.
• The $80 billion investment plan will help rebuild audit capability, replace outdated technology, and ensure taxpayers receive the help they need to meet their obligations.

The IRS plans to hire almost 30k employees & launch new tech in the next 2 years with an $80B investment plan aimed at improving customer service & tax enforcement.

The Internal Revenue Service (IRS) in the United States has announced an ambitious plan to hire almost 30,000 new employees as well as launch new technology over the next two years. According to a report from Reuters, the $80 billion investment plan is aimed at improving customer service and 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.

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