IRS May Shrink To 3 Smaller Units Under House GOP Tax Plan

By Vidya Kauri (November 15, 2016, 6:49 PM EST) -- The existing structure of the Internal Revenue Service could be on shaky ground with Republicans controlling Congress and a proposal to shrink the agency to three smaller units focused on individual taxation, corporate taxes and dispute resolution based on the style of a small claims court.

House Ways and Means Committee Chairman Kevin Brady, R-Texas, said during a conference hosted by Bloomberg BNA and KPMG LLP on Tuesday that the House GOP, which released a blueprint for tax reform in June, wants President-elect Donald Trump "to hit the ground running" on major policy changes to lower tax rates and "bust up...

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