More than half of the $80 billion granted by Congress under the Inflation Reduction Act (IRA) was reserved by Congress for tax compliance enforcement. That means the IRS will use $45.6 billion of the funds to focus on those who are not in tax compliance, specifically focusing on high-income and high-wealth individuals, complex partnerships, and large corporations.
Other funds will be used to strengthen the IRS’ customer service, decrease long wait times both for IRS assistance by phone and at in-person assistance centers, and to add more online tools on the IRS’ website to assist taxpayers.
Overall, the report has 42 key initiatives, and 190 projects to improve the agency. To read the full report, click here.
