IRS Collects $1.3 Billion Less Than Expected
The IRS announced it has collected $1.3 billion less this past year than expected. The reason is due, in part, to new tax laws for taxpayers, a shortage of agents and Service property seizures and liens.
Even at an astounding $1.3 billion, this is only a small part of the $1.8 trillion collected by the IRS in 1999. Still, Commissioner Rossotti has issued a statement with his concern over the loss, and that the Service is attempting to make up for the losses.
Employee-wise, over the past several years, there have been as many as 15,000 fewer agents. In addition, some agents have been redirected to other functions, such as manning telephone lines.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.