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Biden Treasury makes renewed push for $80B in IRS funding to double workforce

The IRS is pushing anew for $80 billion in funding to more than double its workforce and crack down on tax cheats, an initiative that has stalled because of opposition from Republicans citing the potential for abuse by the agency. ....

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Treasury official warns of $7 trillion tax gap over next decade in pitch for more IRS funding

The Treasury Department projects that there will be a $7 trillion tax gap over the next decade and is hoping to reduce that through increased funding for the Internal Revenue Service. ....

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Momentum builds for delaying tax deadline

Momentum builds for delaying tax deadline
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Yellen picks notable experts to join the US Treasury's digital tax talks

Clausing, Grinberg, and Kysar bring a significant amount of international tax experience to the Treasury
In-house tax directors at large multinational companies and their advisors are expecting revisions to certain measures under the TCJA, including increasing the corporate tax rate and global intangible low-taxed income (GILTI) rate, following key appointments to the US Treasury. Faster developments on pillar one and two at the OECD are also expected.
Former IMF director David Lipton will serve as a senior counsel to Yellen on tax policy, according to reports from Reuters. Alongside Lipton’s appointment on February 2, Deputy Assistant Secretaries Kimberly Clausing, Itai Grinberg, and Tom West, as well as Counsel to the Assistant Secretary Rebecca Kysar, were selected by the Biden administration to direct and shape domestic and international tax policy at the Treasury. ....

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