President Joe Biden proposed $12.3 billion in annual funding for the IRS in his budget Monday—supporting the agency’s momentum as it builds up its enforcement efforts on wealthy individuals and companies that aren’t paying what they owe.
The proposed IRS annual funding for fiscal 2025 aligns with 2023 levels, though is a drop from Biden’s $14.1 billion pitch from last year for fiscal 2024. The administration designed its fiscal 2025 budget so that total annual appropriations were in line with levels agreed to in a debt-limit law last year. The administration’s fiscal 2025 budget request also proposes restoring and ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.