IRS To Hire 30,000 New Employees With Additional $80 Billion In Funding

The Biden administration has revealed that the IRS will employ 30,000 new staff over the next two years to modernize its services and boost tax enforcement on high-earning individuals and companies.

The IRS will spend $80bn, including $47bn on tax enforcement efforts and $7.5bn on taxpayer services, as part of the Inflation Reduction Act. The US Treasury Department missed its own deadline to release the plan and faced criticism from Capitol Hill.