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Accountancy Slice
North America
The IRS has released an update of its Strategic Operating Plan, outlining improvements in services and technology for taxpayers and tax professionals. The plan focuses on five key objectives and aims to accelerate progress made possible by funding from the Inflation Reduction Act. IRS Commissioner Danny Werfel highlighted the agency's achievements in improving taxpayer services and technology, emphasizing the goal of a completely digital experience for taxpayers. The report also details the IRS's priority efforts for tax professionals, including expanding the capabilities of the Tax Professional Online Account. However, the IRS faces funding challenges and the threat of budget cuts. The Biden administration's budget proposal aims to restore and maintain full funding for the IRS through 2034. The Treasury Department highlighted the positive impact of the extra funding, such as improved phone service and enhanced online tools. The IRS also strengthened enforcement against complex partnerships, large corporations, and wealthy individuals. The report concludes with the importance of stable funding for the IRS to continue its modernization efforts and provide quality taxpayer service.
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