IRS Budget Cuts…Again.
U.S. House of Representatives Republicans introduced legislation this week for the upcoming government fiscal year beginning October 1, 2015. The legislation included a number of provisions for government spending that covered most of the departments, the military, the courts, etc. But prominent in the bill was a $838 million reduction in funding for the Internal Revenue Service.
According to the bill’s authors, it includes the funds necessary for the IRS to perform its core functions properly and actually includes a $75 million increase in funds for telephone and other support for taxpayer communication and related services. But the overall cut in funding is intended to reign in what House Republicans believe is an abusive over-reaching by the IRS into areas which are not central to its mission of administering the federal tax code.
The bill has some support in the Republican controlled house and might even make it through the Senate. But it is highly unlikely to gain White House approval without some modification. So strap on the seat belt, another budget crisis may just be looming on the horizon. And in a pre-election year, it’s not very likely that logic and rational thought will be prevalent in the dialog.
If you have tax concerns and would like to have one of our experienced tax professionals take a look at your situation, contact Nielsen Law Group at (480) 888-7111 or submit a consultation request here. Our group works hard to provide unmatched customer service and superior results with a personal touch.