Lawmakers Told that IRS Needs Additional Funding to Implement New Tax Law

Posted on October 19, 2018

If you are a regular reader of this blog, you know that the IRS has endured substantial cuts in its budget which, in turn, has caused a substantial reduction in the level of services it can provide. Worse yet, the IRS has suffered a loss of more than 17,000 employees, a staggering number. Further, the IRS has been asked to implement changes in the law, including the recently signed Tax Cuts and Jobs Act legislation. Treasury Secretary Steven Mnuchin recently told House lawmakers that the IRS needs additional funding to implement the new tax law and estimates that the IRS will need an additional $397 million in order to do so. Mnuchin stated that this additional funding would span over two years and allow the IRS to update antiquated telephone systems and technology. What do you think?