More Jobs - Working for the IRS: The New Healthcare Budget and Tax Law
The IRS will be expanding in 2012 due to budget changes resulting from the new healthcare bill.
The gist of their budget proposal is this: The IRS wants to hire new employees to help administer the new health care laws.
These new full time IRS employees will not be auditors, they will actually be IT people and others hired to help "improve taxpayer service".
The budget includes the "largest set of tax law changes in more than 20 years, with more than 40 provisions that amend the tax laws.
" It also explains that the new laws will be phased in, not just dumped on us at once.
So why does health care affect what the IRS does? Most of it has to do with health care law compliance.
The bill goes into greater detail about these changes, but some of the new basic needs include about $97 million to "increase coverage and address tax law changes and other compliance issues", about $58 million to "administer new statutory reporting requirements", and $260 million to "ensure accurate delivery of tax credits.
In addition to these costs, the IRS will be making infrastructural changes to implement taxpayer service programs, which will cost about $50 million.
They have even included a new $11.
5 million need to manage the tanning excise tax.
Of course there are many more provisions included in this document, but the important thing is that expanding IRS services because of this bill is going to cost, no matter what.
Congress seems to believe that the revenue collected will offset these new high costs.
The new administrative requirements are enough to make the National Taxpayer Advocate service take note.
However, since there will be such an increase, the above mentioned $50 million will go toward taxpayer advocacy.
Even as it stands the IRS cannot properly maintain the amount of calls that come in.
The taxpayer advocacy services will hire people to educate others about the new laws and changes in old laws, and will also simply need more people just to answer the phones.
The details of the new laws are written in the 199 pages of the Internal Revenue Service Fiscal Year 2012 Budget Request, submitted on Valentine's Day.
If the nitty gritty of tax budgeting is not your thing but you are still curious and want more information, they also released a 15 page summary.
While the healthcare bill has been getting a lot of attention, the corresponding IRS expansion has not.
However, the IRS knows it is necessary even though spending money on collection efforts is not exactly a popular idea.
The gist of their budget proposal is this: The IRS wants to hire new employees to help administer the new health care laws.
These new full time IRS employees will not be auditors, they will actually be IT people and others hired to help "improve taxpayer service".
The budget includes the "largest set of tax law changes in more than 20 years, with more than 40 provisions that amend the tax laws.
" It also explains that the new laws will be phased in, not just dumped on us at once.
So why does health care affect what the IRS does? Most of it has to do with health care law compliance.
The bill goes into greater detail about these changes, but some of the new basic needs include about $97 million to "increase coverage and address tax law changes and other compliance issues", about $58 million to "administer new statutory reporting requirements", and $260 million to "ensure accurate delivery of tax credits.
In addition to these costs, the IRS will be making infrastructural changes to implement taxpayer service programs, which will cost about $50 million.
They have even included a new $11.
5 million need to manage the tanning excise tax.
Of course there are many more provisions included in this document, but the important thing is that expanding IRS services because of this bill is going to cost, no matter what.
Congress seems to believe that the revenue collected will offset these new high costs.
The new administrative requirements are enough to make the National Taxpayer Advocate service take note.
However, since there will be such an increase, the above mentioned $50 million will go toward taxpayer advocacy.
Even as it stands the IRS cannot properly maintain the amount of calls that come in.
The taxpayer advocacy services will hire people to educate others about the new laws and changes in old laws, and will also simply need more people just to answer the phones.
The details of the new laws are written in the 199 pages of the Internal Revenue Service Fiscal Year 2012 Budget Request, submitted on Valentine's Day.
If the nitty gritty of tax budgeting is not your thing but you are still curious and want more information, they also released a 15 page summary.
While the healthcare bill has been getting a lot of attention, the corresponding IRS expansion has not.
However, the IRS knows it is necessary even though spending money on collection efforts is not exactly a popular idea.
Source...