IRS Cuts Could Cause Loss of $4 Billion in Revenue

According to Colleen Kelley, president of the National Treasury Employees Union, proposed cuts to the IRS enforcement budget would result in a “devastating” lost of $4 billion in revenue collected by the IRS each year. 

During a conference with reporters, Kelley said that the cuts would affect the Social Security Administration, Food and Drug Administration, Department of Homeland Security, and Veterans Affairs Department.The proposed cuts would also result in the loss of 4,000 IRS jobs (IRS staff numbers have already dropped from 114,000 in 1995 to only 94,000 today). 

The Obama administration has come out in support of increased funding and has proposed $1.9 billion for enforcement. 

See Judi Hasson, IRS Cuts Would Mean Loss of Essential Services, $4 Billion in Revenue, AOL Government, Oct. 12, 2011.

Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this article to my attention.