Insiders Advisor
  • Stocks
  • World News
  • Business
  • Politics
  • Stocks
  • World News
  • Business
  • Politics

Insiders Advisor

World News

US IRS chief sees workforce topping 100,000 within three years

by March 19, 2024
March 19, 2024
US IRS chief sees workforce topping 100,000 within three years

WASHINGTON – Internal Revenue Service Commissioner Danny Werfel said on Monday that the tax agency will need to boost its workforce to over 100,000 people over the next three years to achieve its modernization, service and enforcement goals and additional funding will be needed to maintain that extra capacity.

Mr. Werfel told reporters on his first anniversary in the IRS’ top job that near-term hiring will focus on improving taxpayer services and on handling complex audits.

He added that the IRS will detail its hiring plans next month in an update to its strategic operating plan for deploying some $60 billion in supplemental funding over a decade from the 2022 Inflation Reduction Act.

“We’re at 90,000 now. I think to get into a right-size position over the next two to three years, we need to be above 100,000, but not that much above 100,000,” Werfel said.

That figure would represent a more than 20,000 full-time-equivalent staff increase over the fiscal 2022 level of 79,070, which was about 9.1% below the 2013 level of 86,974, according to IRS data. IRS employment dipped to 73,519 in 2019 after years of budget cuts, mostly passed by Republican-controlled Congresses.

The overall level of increase in the IRS’ staffing would be far less than Republican accusations that the agency is building an “army” of 87,000 agents, many of them armed. That figure was derived from a 2021 Treasury report that estimated gross hiring needs to overcome a wave of IRS retirements and rebuild the workforce, but it has motivated Republicans to try to claw back funding.

A top-line fiscal 2024 spending agreement is set to cut the original $80 billion in funds back to $60 billion.

As congressional negotiators wrangle over another partial government shutdown deadline on Friday, in the midst of tax filing season, Mr. Werfel warned of potential disruptions for taxpayers in receiving refunds. He said the agency would “work within the law to keep as much open as we can, but we can’t keep everything open.”

 

FUTURE FUNDS

President Joe Biden’s fiscal 2025 proposed budget includes a request for an additional $104 billion in IRS funding, which Werfel said would cover later years of the 10-year budget window. Even though the supplemental funding has been cut by $20 billion, IRS will continue making near-term investments in technology at the current pace, he said.

Mr. Werfel added that there would not be enough funding in the separate, annual operating budget for the IRS to support a “new baseline” for the IRS, with the additional employees, to continue to pursue sophisticated audits and continually upgrade technology.

“So we so if we don’t add funds, then at some point we’re going to hit a cliff and we’re going to have to lose some of that capacity,” he said. – Reuters

previous post
Indonesia fishing village grapples with piles of trash brought in by tides
next post
Japan saw record 2.79 million visitors in February due to Lunar New Year boost

Related Posts

Japan’s overworked, underpaid truckers left behind in wage...

March 14, 2024

Japan relaxes military export curbs for planned jet...

March 26, 2024

RBC unit City National Bank cuts nearly 100...

February 15, 2024

FBI says Chinese hackers preparing to attack US...

April 19, 2024

Reddit prices IPO at top of indicated range...

March 21, 2024

China’s Xian to give lottery tickets to newlyweds...

February 28, 2024

IMF slashes global outlook as White House says...

April 23, 2025

Sydney school, supermarket tainted with asbestos as crisis...

February 19, 2024

Heat wave killed at least 56 in India...

June 3, 2024

Apple in talks to let Google’s Gemini power...

March 18, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Latest News

    • GOP outperformed Dems on voter registration in key battleground states, new analysis reveals

      May 21, 2025
    • Target calls price hikes a ‘very last resort’ for offsetting tariffs as sales slump

      May 21, 2025
    • Will Vance remark about US bailing on Ukraine encourage Putin to sink nascent peace talks?

      May 21, 2025
    • DAVID MARCUS: The invisible hand that governed America during Biden years

      May 21, 2025
    • Controversial office vacant for first time in nearly a decade, but emerging secrets haunt those involved

      May 21, 2025
    • South African-born Musk evoked by Trump during meeting with nation’s leader: ‘Don’t want to get Elon involved’

      May 21, 2025

    Categories

    • Business (1,222)
    • Politics (5,657)
    • Stocks (904)
    • World News (455)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: insidersadvisor.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 insidersadvisor.com | All Rights Reserved