Inflation Reduction Act Helps IRS Hiring 3,700 New Agents To Go After Wealthy Taxpayers And Partnerships

IRS Hiring 3,700 New Agents To Go After Wealthy Taxpayers And Partnerships

According to an article in the Federal Tax Network, the IRS says it plans to fast-track the hiring of more than 3,700 internal revenue agents across the country. Agents will focus on complicated tax compliance issues, and are trained to audit large corporations and complex partnerships. The announcement marks the IRS’s second major hiring initiative under the Inflation Reduction Act. The agency through the legislation has roughly $60 billion to rebuild its workforce and modernize its legacy IT over the next decade.

A new hire may have significant corporate experience from working in a private company tax department but have very limited individual tax experience,and be salaried around $125,000 annually. The agency said the job is a mid-career position that pays about $125,000 a year. Total compensation – when factoring federal employee benefits like child care, paid parental leave and student loan repayment – is closer to $175,000.

According to the Treasury Inspector General For Tax Administration, the Inflation Reduction Act(IRS) funding was intended to increase examination of high income earners as stayed in its report. The IRA was enacted providing 46.5 Billion for enforcement activities.

You can thank Congress for passing this bill in the House of Representatives. Who in Congress voted for the inflation reduction act?

On August 12, 2022, the Inflation Reduction Act bill was passed by the House on a 220–207 vote, with all Democrats voting in favor and all Republicans voting against it.

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