Biden Seeks 10% IRS Funding Hike to Spur More Audits of Wealthy

President Joe Biden is seeking more than $1 billion dollars in additional funding for the IRS—showing his administration is serious about getting the agency the resources it needs to audit more wealthy individuals and large corporations.

The proposed $13.2 billion baseline budget for fiscal year 2022 would be a $1.2 billion, or 10.4%, increase over the 2021 enacted level, the administration said in its funding request released Friday. The IRS would also get an additional increase of $417 million for tax enforcement as part of a multi-year initiative to increase taxpayer compliance and revenues. Altogether the ...