Hold times are already long when preparers are calling the IRS for assistance. These budget cuts will only increase the hold times and make tax season even more frustrating for tax preparers and their clients.
Delray Beach, FL (PRWEB) September 09, 2014
As many tax pros are already aware the IRS budget was cut by 7% in 2014. It can be argued that these cuts are unfair and may be driven by the IRS' targeting of conservative groups last year. The IRS budget is only $11 billion per year but if compliance with the tax code drops 1% this costs the government $30 billion per year in lost revenues. The IRS generates revenue for the government and cutting its budget may cause more harm than good in the long run.
Jody Dovich from Sigma Tax Pro explains how this will affect tax professionals: "Hold times are already long when preparers are calling the IRS for assistance. These budget cuts will only increase the hold times and make tax season even more frustrating for tax preparers and their clients." Dovich also notes that the IRS budget is being cut even as they are being asked to take on the additional work of handling the tax provisions of the current administration’s signature legislation, the Affordable Care Act.
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