President Bush's 2006 budget will request an additional $500 million for IRS enforcement activities, representing a 7.8% increase in funding compared to the fiscal year 2005, the US Treasury Department has announced.
Justifying the request, Treasury Secretary John Snow remarked earlier this week that: "Americans who play by the rules and pay their taxes deserve confidence that others pay their fair share as well.”
Mr Snow added: "Increasing enforcement not only catches tax cheats, but discourages others from avoiding paying their taxes. The vast majority of Americans pay their taxes. The IRS is committed to striking a balance between catching those who would avoid paying and providing excellent service to all taxpayers.”
Meanwhile, IRS Commissioner Mark W. Everson commented that enforcement “more than pays for itself.”
"Particularly in a period of deficit reduction, funding IRS enforcement is a wise investment,” Everson argued.
Congress enacted $6.392 billion for IRS enforcement in fiscal year 2005, and the President's fiscal year 2006 budget requests an enforcement budget of $6.893 billion.
According to the Treasury, the increase will provide additional resources to examine more tax returns, collect past due taxes and investigate cases of tax avoidance.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment