Home » Economy » IRS to start spending new $80 billion budget from Democrats
IRS to start spending new $80 billion budget from Democrats
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The Internal Revenue Service is poised to start spending the $80 billion funding that it received as part of Democrats' sweeping health care and climate change spending bill.
Providing the IRS with an influx of funding has been a top priority for Democrats and emerged as one of the most prominent financiers of the Inflation Reduction Act that President Biden signed into law last week. But it has elicited a fierce pushback from Republicans, who say that a beefed-up IRS could ultimately hurt lower-income Americans.
The tax-collecting agency is expected to use the first chunk of money from the bill to hire people who will answer taxpayers' phone calls during the 2023 tax season.
Recently, only about one in 10 callers has been getting through to the IRS, according to National Taxpayer Advocate Erin Collins. The IRS received an estimated 73 million telephone calls from taxpayers seeking help or guidance during the most recent filing season.
YELLEN DIRECTS IRS TO DEVELOP PLAN FOR $80B OVERHAUL WITHIN 6 MONTHS