IRS got from Congress $80 Billons in new added funding.
The IRS is looking to hire 30,000 new employees over the next two years. Including are data scientists, data miners, CPAs, finance MBAs, and tax lawyers. The new hires will be used to improve tax enforcement and customer service.
AI came to the rescue just in time. The IRS is also expected to invest in new technology (AI), to help with these efforts.
The new IRS employees will come from a variety of sources. Some of these employees may be poached from private tax preparation companies, such as H&R Block, Jackson Hewitt, Ernest & Young and Turbo Tax. However, others – the IRS is expecting to hire new graduates and experienced professionals from additional fields.
The hiring of 30,000 new IRS employees is likely to have a significant impact on the private tax preparation industry. Some companies may be forced to lay off employees or close down altogether. Other companies may be able to adapt to the new environment by offering new services or expanding into new markets.
So who is left to do our tax returns next year?
Wait and see. Overall, the hiring of 30,000 new IRS employees is likely to have an unknown impact on the private tax preparation industry. Some companies may be negatively affected, while others may be able to benefit from the new opportunities.
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