The IRS plans to hire 3,700 employees to help fuel its efforts to target large corporations and complex partnerships.
Democrats’ Inflation Reduction Act set aside tens of billions of dollars to allow the IRS to intensify its enforcement of tax cheats. The Friday announcement followed agency news last week that it would open examinations for 75 of the largest US partnerships by the end of September.
The new positions, which will be open in more than 250 locations, will help ramp up the IRS compliance efforts against high-income earners, partnerships, large corporations, and promoters, the IRS said in a press release.
“This next wave of hiring will help the IRS add key talent like tax accountants to help reverse a decade-long decline of audits for the wealthy as well as complex partnerships and corporations,” IRS commissioner Danny Werfel said in the release.
The agency is looking for specialized technical positions that focus on audits, the release said.
In August, Werfel said the IRS was approaching its milestone of increasing its workforce to 90,000 full-time equivalent employees as it battles hiring new employees and attrition.
The recent hiring announcement comes at a time where Werfel is pressing Congress to not make future budget cuts as Republican lawmakers threaten to cut the IRS the agency’s annual appropriation.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.
The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.
Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.