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Tags: rettig | irs | audits | outmatched

IRS Chief: Agency Outmatched in Audits of Big Companies

Charles Rettig
Internal Revenue Service Commissioner Charles Rettig arrives for a Senate Finance Committee hearing on Capitol Hill in Washington, D.C. on June 30, 2020. (Susan Walsh/AFP via Getty Images)

By    |   Thursday, 17 March 2022 02:45 PM EDT

The IRS is "outgunned" when it conducts audits of some of the biggest companies in the U.S, IRS Commissioner Charles Rettig said Thursday.

Bloomberg reported that his comments were made before the House Ways and Means Committee.

"We do not have the resources to go after the bigs or the superbigs, as we refer to them, and we get outgunned routinely in that space,"  he said.

Rettig said the problem means that lawmakers should try to consult with the agency when creating new tax policies so they can get input on the feasibility and enforceability of those proposals.

Bloomberg noted that President Joe Biden wants the IRS to get $80 billion over the next 10 years to beef up its audit and enforcement team.

Meanwhile, The Washington Post reported earlier this month the IRS is looking to hire 10,000 workers in an effort to reduce the backlog of 24 million tax returns and correspondence.

The newspaper attributed details of the hiring plan to four unnamed sources.

The jobs have been vacant for years and include positions ranging from clerical to advanced engineering to practicing tax attorney.

The posts are targeted to be filled over the next two years. Money to pay for the positions is expected to come from the IRS budget, the Post said. A large share of it will come from coronavirus stimulus funding.  

Rettig, in a column posted on Yahoo, said last month the agency faces "enormous challenges" in dealing with the unprocessed returns.

''Millions are waiting for their returns to be processed, and many won't be able to reach us when they call with questions this filing season," he said.

© 2022 Newsmax. All rights reserved.


Newsfront
The IRS is "outgunned" when it conducts audits of some of the biggest companies in the U.S, IRS Commissioner Charles Rettig said Thursday.
rettig, irs, audits, outmatched
274
2022-45-17
Thursday, 17 March 2022 02:45 PM
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