Beltway Confidential

The IRS has a history of corruption and incompetence

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Published June 24, 2021 4:00pm ET
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The IRS has a history of corruption and incompetence
A man walks past the Internal Revenue Service (IRS) headquarters in Washington, D.C., U.S., on Friday, Oct. 20, 2017. President Donald Trump's top legislative priority took a major step forward as the Senate narrowly approved a budget vehicle for tax cuts -- but sharp divides over an array of non-binding amendments revealed the towering challenge he faces from here. | (Andrew Harrer/Bloomberg)

President Joe Biden has proposed drastically expanding the IRS.

Biden’s plan calls for hiring over 87,000 agents, more than doubling the agency’s workforce. It also allocates $80 billion in new funding over the next decade, a 67% annual increase compared to 2021 funding levels. This plan will give the IRS new “specialized enforcement staff” and force banks and payment apps like Venmo to report the inflows and outflows of businesses and people.

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Taxes