IRS Says It Will Need $495M To Enact New Tax Law

Law360, New York (January 10, 2018, 7:25 PM EST) -- The Internal Revenue Service will need $495 million to implement the newly enacted tax cut legislation, even as it continues to reel from more than $1 billion in budget cuts since 2010, according to a report on Wednesday from the national taxpayer advocate.

The annual report to Congress from Nina Olson, who heads the Taxpayer Advocate Service, said that the agency has estimated it needs the additional funding to update programs and systems, answer an anticipated increase in phone calls from taxpayers, publish new forms and publications, issue new guidance and train employees on the new law.

"The IRS has identified...

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