The Internal Revenue Service is getting a funding boost thanks to the Inflation Reduction Act, which President Joe Biden signed into law in 2022.
That legislative package originally included about US$80 billion to expand the tax collection agency’s budget over the next 10 years. Congress and the White House have since agreed to pare this total by about $20 billion, but $60 billion is still a big chunk of change for an agency that until recently had about $14 billion in annual funding.
