The Internal Revenue Service (IRS) would get $80 billion in President Biden’s budget proposal. Two former IRS commissioners said Sunday on “Government Matters” the budget boost should be permanent. Another former IRS commissioner, John Koskinen, gives his view on how the money should be spent.
- Koskinen, who endorses the spending, said using some of the money to upgrade technology would enable more third-party reporting from banks, which could produce hundreds of billions of dollars in tax revenue from increased compliance.
- Koskinen said the money should be split up between information, resources and technology to fix problems at the agency.
- He said if Congress disposes only some of the $80 billion, the IRS should focus on hiring and addressing low-hanging fruit such as certain audits.