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Is $688 Billion Too Big for the IRS to Handle
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Subscribe29 NOV 2024 / IRS UPDATES
The Internal Revenue Service Advisory Council (IRSAC) has stated in its 2024 Public Report that inadequate funding and a lack of oversight over tax preparers are major issues hampering the IRS's ability to keep up with today's digital age. The IRSAC suggests that addressing these issues can help close the 'tax gap,' restore public trust, and improve tax administration, calling for proactive action from Congress, the IRS, and other stakeholders.
Ever wonder why the IRS struggles to keep up in a fast-paced, digital-first world? The Internal Revenue Service Advisory Council (IRSAC) has an answer: inadequate funding and a lack of oversight over tax preparers. These two issues, among the 37 covered i...
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