Excerpt: “We initiated this review to provide periodic reporting on the IRS’s use and accounting for expenditures using IRA funding. This report provides a quarterly and cumulative snapshot of how the funding has been expended through Sept. 30, 2024. The IRS’s IRA supplemental funding is intended to help improve taxpayer services, modernize technology, and increase compliance and enforcement actions against high-income taxpayers and large corporations. … Of the $9 billion of IRA funding expended as of Sept. 30, 2024, approximately $2.1 billion occurred in the fourth quarter of FY 2024. The negative amount in the Taxpayer Services funding activity reflects a realignment of obligations primarily to discretionary accounts as approved Information Technologies funds were available.”
Share