Jorge Castro Quoted on Significance of Possible Additional Funding for IRS in InvestmentNews
"Targeting Tax Cheats"
Tax Member Jorge Castro, former Congressional tax aide and Counselor to the IRS Commissioner during the Obama administration, commented on President Biden's proposal to increase funding for the IRS by $80 billion in an effort to bolster the IRS's enforcement efforts. Biden's funding proposal would be "transformational for the IRS," Castro noted. "The tax gap is an example of how the IRS needs more resources. They would have more examiners. They could do more audits." Castro said. "I haven't ever seen the president of the United States have this kind of interest in increasing the level of IRS funding."