SWEEPING CHANGE

IRS Reveals $80 Billion Overhaul, Including Plans to Go After Wealthy Tax Evaders

More than half of the money will go towards combatting big-ticket tax evaders, including corporations and the nation’s wealthiest people.

The Internal Revenue Service on Thursday released its $80 billion plan to overhaul the agency into a “digital first” tax collector that provides “world class” service. The massive proposal includes modernizing IRS technology, a communication and customer service overhaul, the use of machine-learning technology to detect inaccuracies, personnel additions and more. More than half of the $80 billion will go towards combatting big-ticket tax evaders, including corporations and the nation’s wealthiest individuals. The agency wants to focus on “hiring the accountants, attorneys, and data scientists needed to pursue high-income and high-wealth individuals, complex partnerships and large corporations that are not paying the taxes they owe,” IRS Commissioner Daniel Werfel said. The much-anticipated overhaul is part of President Joe Biden’s economic plan, which aims to put a dent in $7 trillion of uncollected tax revenue to fund climate change and lower prescription drug prices, among other Democratic initiatives.