The Beleaguered Federal Agency
For five consecutive years, the Internal Revenue Service has sustained cutting losses to its budget. As of this fiscal year, the IRS budget stands at $10.9 billion, representing a cut of more than $1.2 billion as compared to its budget five years ago.
These figures, though large, only become impactful through considering the various effects that the budget cuts have had on the IRS. Along with employees needing to spend out of pocket for essentials such as office supplies, the agency’s loss of 13,000 employees has led the IRS to expect roughly 46,000 less audits this year— in addition to the staggering 19% fewer investigations conducted the year before.
The Nation’s Duty and a Wavering Public
News of the staggered giant will undoubtedly persuade a portion of the public to take advantage of the agency’s compromised productivity. A lack of guidance to navigate our convoluted tax code, coupled with the distressing knowledge of citizens who will inevitably abuse it, can prove disheartening to conscientious taxpayers.
To every corporation and individual who seeks to do the right thing, be reminded that this sense of integrity and national duty is what the government depends on, and serves as the foundation on which the nation stands.
Consult with JLK Rosenberger for a better understanding of current issues and guidance on how to build and navigate through your tax plan.