President Approves IRS Funding, Expects Better Service

It looks like our tax collectors will be with us for another year. President Bush signed the legislation that provides funding for the Treasury Department and the IRS for fiscal year 2002. The law provides $15 billion for the Treasury and $9.44 billion for the IRS.

A special allocation of $500,000 has been set aside from the IRS funding to pay for bimonthly reviews of the IRS's nationwide service centers, which were found to provide taxpayers with incorrect answers last year 72% of the time.

Senator Byron Dorgan, D-ND, is responsible for adding the bimonthly reviews to the legislation after reading a report by the Treasury Inspector General for Tax Administration describing the poor service by the IRS. "If the Internal Revenue Service can't do it, how on earth can you expect the American people to comply with their tax responsibilities?" Senator Dorgan said in remarks to the Senate.

You may like these other stories...

A new government report on Monday found that the IRS may not be completing the required research steps in collecting delinquent taxes before considering the cases “not collectible.”The Treasury Inspector General...
The school year is off and running—have your start-up clients launched as well? It may make a big difference in tax status. If your clients can get their businesses up-and-running before the end of the year, they may...
Ernst & Young fiscal-year revenue rises 6% to $27.4 billionMichael Rapoport of the Wall Street Journal reported late Thursday that Ernst & Young's (EY) global revenue was $27.4 billion in its latest fiscal year,...

Already a member? log in here.

Upcoming CPE Webinars

Sep 30This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 9In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards.
Oct 15This webinar presents the requirements of AU-C 600, Audits of Group Financial Statements (Including the Work of Component Auditors).
Oct 21Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience’s communication style.