The Blubber

Per Reuters

The Internal Revenue Service has announced plans to expand its workforce by tapping into its $80 billion new funds budget. In two years, the agency plans to expand its workforce to 30,000 workers.

The $80 billion budget was directed toward the IRS' customer service and tax enforcement. Aside from adding staff, the agency plans to use its new funds to deploy new technologies within the same timeframe.

The IRS released the 148-page report called the Strategic Operating Plan that revealed the agency's hiring plans and other projects. Wally Adeyamo, the U.S. Deputy Treasury Secretary, gave a statement to reporters regarding the agency's plans.

Adeyamo: "The IRS is going to hire more data scientists than they ever have for enforcement purposes,"

The IRS plans to add 8,782 new enforcement staff for fiscal years 2023 and 2024. This would cost $8.64 billion out of the total budget. The agency also plans to add 5,000 new customer service staff, specifically in taxpayer service, in the next few months.

This would result in 13,883 new full-time staff. However, 12,000 current employees are expected to retire in the next two years.

Montana Republican Senator Steve Daines gave a statement regarding the plans of the IRS.

Daines: "(The IRS) plans to deploy an army of tens of thousands of IRS agents to increase audits on Montana families and reach into the pocketbooks of Americans."

Recently, the IRS released a new program that would help employers report the tips that employees made. The program was called the Service Industry Tip Compliance Agreement (SITCA) program, which was supposed to be a voluntary tip reporting program between the IRS and service industry employers.

Janet Yellen has recently told the IRS not to use its additional resources to increase the audit rates for American families that earned less than $400,000 per year.

See flow at unusualwhales.com/flow.

Other News:

• The IRS has issued a new program for employers to report tips employees made
• Janet Yellen has told the IRS not to use the additional resources to increase audit rates for American families earning less than $400,000 annually

Resources:

Reuters