There so many things in this act. Lots of Issues to cover. I’ll start with increased IRS funding.
They increased the following:
Enforcement, $66 B (billion) to $111 B, a $45 B increase or 69% increase. The IRS significantly reduced the audits over the past 10 years, this will allow them to start working toward the same level of enforcement they had in 2010. Another item, In the legislation for enforcement they say “…. To provide digital asset monitoring and compliance activities….” That is interesting I think they are focused on criminal activities relating to Crypto. But its an expansion of “Big Brother” – Digital Asset Monitoring….
Operations Support $47 B to $72 B, a $25 B increase or 53%. They need this!!. Last time I called I had to wait 3 hours! They are so short staffed.
Taxpayer Services $33B to $36B, a $3 B increase or 10%. Keeps up with inflation.
Business Systems Modernization $3.1 B to $7.8 B or 153% increase. All I have to say is “Great” Did you know a tax professional can not even email the IRS? They only accept faxes. The IRS is in the 1980’s when it comes to technology When I call it takes 30 minutes to verify me. They even ask for our birthdate and SS No. There has got to be a better way, maybe this will help.