Powell’s Catch-22 | The Fed Decision, IRS cutbacks, Ireland’s Corporate Tax
Wall Street Week
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IRS Funding Dynamics and Challenges
This chapter examines the budget cuts faced by the IRS from 2010 to 2020 and the Biden administration's plan to invest $80 billion to restore its funding. It highlights the adverse effects of previous staff reductions on tax compliance and the potential revenue losses resulting from diminished enforcement capabilities.
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