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The IRS Is Getting $80 Billion. For What? : 1A When President Joe Biden signed the Inflation Reduction Act into law, he allocated $80 billion for the Internal Revenue Service.

The IRS says the money will help close the yearly deficit of $600 billion between the taxes the IRS collects and the taxes owed.

The agency plans to spend the money on hiring new enforcement agents, modernizing technology, auditing the wealthiest Americans, and improving the taxpayer experience. But the plan has attracted partisan pushback.

We discuss the obstacles the IRS has historically faced. We also talk about how far the new money will go to help the agency.

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The IRS Is Getting $80 Billion. For What?

The IRS Is Getting $80 Billion. For What?

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The IRS has a crushing backlog and antiquated technology. Will $80 billion help? Zach Gibson/Getty Images hide caption

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Zach Gibson/Getty Images

The IRS has a crushing backlog and antiquated technology. Will $80 billion help?

Zach Gibson/Getty Images

When President Joe Biden signed the Inflation Reduction Act into law, he allocated $80 billion for the Internal Revenue Service.

The IRS says the money will help close the yearly deficit of $600 billion between the taxes the IRS collects and the taxes owed.

The agency plans to spend the money on hiring new enforcement agents, modernizing technology, auditing the wealthiest Americans, and improving the taxpayer experience. But the plan has attracted partisan pushback.

What obstacles has the IRS historically faced? And how far will the new money go to help the beleaguered agency?

Former Internal Revenue Service Commissioner John Koskinen, Center for Taxpayer Rights Executive Director Nina Olson, the Wall Street Journal's Richard Rubin, and the U.S. Treasury's Natasha Sarin join us for the conversation.

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