Patrick J. McCann Jr. and Jasen Hanson’s article on “What IRS Funding Increase Means for Taxpayers”
In an article published in Law360 on October 21, 2022, Atlanta-based Shareholder Patrick McCann and Senior Associate Jasen Hanson discuss the increase in funding the Internal Revenue Service received and what it means for taxpayers in the U.S.
“The IRS has repeatedly stated that these funds are meant to be used to pursue high-net-worth individuals and sophisticated tax shelters, and the U.S. Department of the Treasury has emphasized that these funds are not meant to be used to increase audits of American families making less than $400,000 annually,” McCann and Hanson explain.
They further discuss how the news of increased staffing levels at the IRS has caused concern among taxpayers and their professional advisors.
“There is no question that the IRS needs additional funding to improve its customer service, in order to fulfill its mission and its obligations to taxpayers,” added McCann and Hanson. “Used properly, additional funds will allow the IRS to improve customer support services, including return processing and taxpayer correspondence and contact. That could significantly benefit taxpayers with questions about their accounts, or those seeking refunds, penalty abatements, offers in compromise, and in other areas.”
To read the full article, subscribers can visit Law360 here.