However, if the Inflation Reduction Act is approved by the House and signed into law, it will take time to phase in the added IRS funding, explained Garrett Watson, a senior policy analyst at the Tax Foundation. The Congressional Budget Office only estimates about $3 billion of the $203.7 billion in revenue for 2023.
"We didn't get to this state with the agency overnight, and it will take longer than overnight to go in the right direction," he said.
"The resources in the reconciliation package will get us back to historical norms in areas of challenge for the agency — large corporate and global high-net-worth taxpayers," he wrote in a"These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans," he added.
More than two-thirds of registered voters support boosting the IRS budget to strengthen tax enforcement on high-income taxpayers, according to a