Debt-ceiling deal slashes IRS funding by $20+ billion.
TL;DR Summary
The recent debt-ceiling deal reached by the US government will cost the IRS up to $21.4 billion due to changes in tax compliance and enforcement measures. The deal includes a suspension of the debt ceiling until December 2022 and increased spending on infrastructure and social programs. The cost to the IRS is expected to come from increased workload and staffing needs to enforce tax compliance measures.
- Debt-Ceiling Deal Will Cost the IRS Up to $21.4 Billion The Wall Street Journal
- IRS faces $20B cut from modernization fund under debt ceiling agreement Federal News Network
- Debt ceiling agreement would crimp IT spending at GSA, CISA FedScoop
- Debt Deal Cuts $21 Billion Of IRS $80 Billion, 87,000 New IRS Agents Stay Forbes
- IRS funding cut won't hurt near-term tax collection, officials say Reuters
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