Reported 1 day ago
The IRS has announced the recovery of $4.7 billion in back taxes and criminal proceeds, leveraging funding from the 2022 tax, climate, and health law. This recovery occurs as Republicans gain congressional majority, potentially leading to cuts in IRS funding previously provided by Democrats. IRS Commissioner Danny Werfel expressed confidence that the agency's improvements will enable it to support upcoming tax legislation, including an extension of the 2017 Tax Cuts and Jobs Act. However, the future of IRS funding remains uncertain due to legislative challenges.
Source: YAHOO