IRS releases annual update to strategic operating plan

Type
:
Development
Tax Area
:
Various
Status
:
Guidance
Qualification
:
Various
Implemented date
:
NA
Country
:
United States
Date added
2 May
,
2024
Docxster’s Summary

The IRS has released its annual update to the strategic operating plan for fiscal year 2024. The plan outlines the agency's goals and objectives for the next five years, including improving taxpayer service, enhancing cybersecurity, and modernizing technology systems. The plan also highlights the IRS's efforts to combat tax fraud and promote tax compliance.

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Article

The IRS today released an annual update to its strategic operating plan, outlining future plans for the agency’s transformation and highlighting improvements for taxpayers since passage of the “Inflation Reduction Act of 2022” (IRA).

In addition, the IRS released an accompanying annual update supplement that focuses on changes underway and planned for fiscal Years 2024 and 2025 across taxpayer service, tax compliance, and technology modernization. 

As explained in a related IRS release—IR-2024-130 (May 2, 2024)—the strategic operating plan update refines last April’s initial plan (read TaxNewsFlash). The update provides an outline of the major projects and outcomes IRS expects to deliver over the next 12 to 18 months, including progress on the simple notice initiative, enforcement activities, and efforts to modernize foundational technology and improve IRS employee tools to help taxpayers. The update also includes additional details on spending and staffing. 

The update also notes that the IRS anticipates increasing audits on the wealthiest taxpayers, large corporations and large, complex partnerships by sizable percentages for tax year 2026.

 

 

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Source :
KPMG
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