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.
Last week's layoffs totaled at least 130 Cetera employees, according to a senior industry executive.
Four of the Magnificent Seven will report this week.
Easing anxiety has seen the haven asset slide from record high.
Uncertainty remains challenging for Treasuries traders.
Move will raise concerns of inflationary impact of tariffs.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
