The IRS leadership announced on Thursday that the agency has successfully recovered $4.7 billion in back taxes and proceeds from various crimes following a significant increase in funding through the Democrats' key legislation in 2022. This achievement comes amidst looming challenges from Republicans, who are poised to take control of both chambers of Congress and have been vocal about rolling back the substantial funding allocated to the IRS by the Democrats.
The IRS Commissioner highlighted the improvements made during his tenure, expressing confidence in the agency's ability to support the incoming administration and the new Republican-led Congress in implementing an extension of the 2017 Tax Cuts and Jobs Act. The Republicans are gearing up to renew approximately $4 trillion in expiring tax cuts, a cornerstone of Trump's initial term in office.
