Larry Gibbs was featured in a video interview with Tax Analysts President and Publisher Christopher Bergin. During this interview, Gibbs discussed the current state of the Internal Revenue Service (IRS), as well as the challenges it faces, particularly stemming from an increasing workload compounded by decreased resources for tax administration due to budget cuts. "I think it's easy to overreact, as a former Commissioner, and I recognize that," Gibbs said. "I recognize that some people may listen to what I or others have to say about the seriousness of our potential problems in tax administration, and think that we're overstating the problem. "But, he added, "I am concerned about our tax administration system. The importance of the tax administration system is really underlined by the fact that I believe, as a country, our fiscal challenges right now are such that we're spending more money than we're taking in. "In an era of limited funding and personnel, which can adversely impact the IRS's services, Gibbs said it is extremely important to have a tax system that operates effectively and efficiently. "If we lose that at a time that we're spending as much as we're spending right now, then it could have a serious impact for our country," he said.

A transcript of the interview was published in Tax Notes Today on June 30, 2014.