Treasury secretary calls for additional funding as the service continues to struggle.
The Internal Revenue Service (IRS) said on Tuesday that, by the end of this week, they will finally have finished processing individual tax returns received in 2021. The agency will now focus on the remainder of the tax returns that have been submitted in 2022. Secretary of the Treasury Janet Yellen intends to help the agency by providing the funding they need to catch up, obtain adequate staff, and ensure smoother processing in the future.
“The IRS is under siege. It is suffering from huge underinvestment,” Secretary Yellen told a Senate Finance Committee hearing on the Treasury’s budget request for fiscal year 2023. “The resources of the IRS have been cut to the point where they’ve largely cut back on the complicated audits, the ones that are harder, of high-income taxpayers.”
As the Lord Leads, Pray with Us…
- For IRS personnel as they continue to process tax returns received this year.
- For agents, auditors, and others who are part of the Internal Revenue Service seeking to eliminate any backlog.
- For Commissioner Rettig to have discernment as he heads the agency.
Sources: AP, Reuters
