Washington -- To bolster enforcement at the Internal Revenue Service, President Bush will ask for roughly $500 million more in the 2006 budget for the agency -- a boost of nearly 8 percent from the fiscal 2005 budget.
In fiscal 2005, House lawmakers accorded nearly $6.4 billion for the IRS, while the 2006 version requests about $6.9 billion, according to figures from the Treasury Dept.
The Treasury said the added funding would be used to examine a greater number of tax returns, collect past due taxes, and investigate tax-avoidance cases.
Mark Everson, Commissioner of the IRS labeled the boost in its enforcement coffers, "a wise investment" that "more than pays for itself."
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access