Tag: IRS BUDGET
IRS Seeking One Billion Dollars For Hiring
Sanjiv Gupta CPA - 3 months ago
How Many Tax Returns IRS Can Audit Each Year?It depends upon how much resources IRS has available. And IRS is just getting ready to increase those resources. Obama administration has recently asked Congress for an additional one billion dollars so that IRS can go on a hiring spree. Why not? – after all, IRS is the best money-making department for the government.Obama’s administration estimates that hiring more IRS agents can bring in $1.5 billion dollars in additional revenue. That is lots of money and the United States can sure use it to fund all the wars we are fighting.Just to be fair, the IRS budget was trimmed down in the year 2011 and this increase will bring a total IRS budget to about 12.8 billion dollars. Just like the Obama administration, IRS is very happy this kind of budget increases. After all – more budget means more agents and more agents means more revenue. You don’t need a certified public accountant to do this math.NTEU president Collen M. Kelley announced in a statement that the additional funding is critical to repair the damage of the harmful cuts during the past two years. He further clarified that the IRS collects some 93 percent of all government revenues — it only makes sense to view IRS funding as an investment towards economic recovery.How many more agents can IRS hire with additional funding?“Rough figure is around 4000 agents,” according to National Treasury Employee Union.More jobs and more revenue – what’s there to lose for slow and sluggish recovery excepts fewer dollars in US taxpayer pockets.Share your thoughts, should IRS get this additional funding?
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