The IRS is at risk of losing $20 billion in funding without legislative intervention

Associated Press

WEST PALM BEACH, Fla. (AP) — Already bracing for funding cuts under a new Trump administration, U.S. Treasury officials are calling on Congress to unlock $20 billion in IRS enforcement money that is tied up in legislative language that has effectively rendered the money frozen. Hoping to unlock the funds in upcoming budget negotiations, Treasury officials are rushing for action before President Joe Biden’s term ends. The $20 billion in question is separate from another $20 billion rescinded from the agency last year. However, the legislative mechanism keeping the government afloat inadvertently duplicated that one-time $20 billion cut to IRS funding.