US Treasury Secretary John Snow stated on Wednesday that the bulk of the Treasury Department’s $11.6 billion budget request will go towards the funding of the Internal Revenue Service in 2005, as the agency attempts to step up its policing of tax compliance.
In testimony before the Senate Appropriations Committee Subcommittee on Transportation, Treasury and General Government, Snow told members that the IRS's $10.7 billion budget request for 2005 includes an additional $300 million to be spent on improving enforcement activities.
“Treasury’s mission of managing the US Government’s finances effectively is the bulk of the President’s FY 2005 request for the Department,” testified Snow.
“The budget request will provide funds to ensure that the tax system is fair for all while maintaining high quality service to our taxpayers and ensuring compliance with the tax laws,” he added.
The full text of Treasury Secretary Snow's testimony on the FY 2005 Treasury budget can be found in the Tax-News Resources section.
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