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Rettig pledges major increase in IRS enforcement

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Tax Hot Topics newsletter IRS Commissioner Charles Rettig pledged to use increased funding to double compliance efforts on partnerships and high-wealth returns and devote more resources to examining corporations with balance sheets assets greater than $10 million. The comments came at a Senate Finance Committee hearing on IRS funding.

The IRS received $12 billion in funding from Congress in fiscal year 2021 and President Joe Biden is proposing to allocate $13.2 billion in fiscal year 2022. The Treasury “Green Book” also proposes to raise nearly $800 billion from increased enforcement and a new information reporting proposal. While these additional efforts may prove controversial, it is clear that IRS enforcement will increase for large corporation, partnerships, and high-net-worth individuals in the coming years. Rettig has asked for direct-hire authority to recruit thousands of experienced private sector tax specialists “who would be immediately impactful” to the IRS.

Contact:
Dustin Stamper
Managing Director
Washington National Tax Office
T +1 202 861 4144

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