So far $5.7 billion has been spent. The total approved funds were actually $60 billion. That ratio does seem sketchy, but the article mentions the money will be spent on other upgrades as well, such as customer service, though it fails to go into much detail.
I recall reading that increasing IRS funds tend to yield significantly higher earnings, but the article doesn’t provide any depth there. The proposal mentions that they expect to bring in $200 billion. That sounds disappointingly low to me. I was hoping for something more like a 10-1 return, but I imagine auditing those armed to dodge taxes isn’t easy.
It can take time too. One of the ways rich people skirt taxes is paying lawyers to drag things out in court. IRS doesn’t just have to hire new people to do complicated audits on rich people, they also have to pay lawyers to enforce their findings in the courts. Ramping up new agents to handle the audits and going through any court procedures can take years.
So far $5.7 billion has been spent. The total approved funds were actually $60 billion. That ratio does seem sketchy, but the article mentions the money will be spent on other upgrades as well, such as customer service, though it fails to go into much detail.
I recall reading that increasing IRS funds tend to yield significantly higher earnings, but the article doesn’t provide any depth there. The proposal mentions that they expect to bring in $200 billion. That sounds disappointingly low to me. I was hoping for something more like a 10-1 return, but I imagine auditing those armed to dodge taxes isn’t easy.
It can take time too. One of the ways rich people skirt taxes is paying lawyers to drag things out in court. IRS doesn’t just have to hire new people to do complicated audits on rich people, they also have to pay lawyers to enforce their findings in the courts. Ramping up new agents to handle the audits and going through any court procedures can take years.