Why The IRS Is Still Struggling To Fund The Government

CNBC
CNBC
194.2 هزار بار بازدید - پارسال - The Internal Revenue Service brings
The Internal Revenue Service brings in approximately 96% of the federal government’s funding every year. In fiscal year 2021 alone, the IRS collected $4.1 trillion dollars in gross taxes. But funding for the agency declined by more than 20% between 2010 through 2019 when adjusted for inflation. This budget squeeze corresponded with a decline in tax audit rates across all income brackets, with the highest earners seeing the largest percent change. In August 2022, President Biden signed the Inflation Reduction Act into law, which set aside nearly $80 billion for the IRS to be used over the next 10 years. Watch the video above to learn more about how the IRS works and how budget cuts have affected the agency.

Chapters:
00:00 — Introduction
01:44 — How the IRS works
03:23 — Funding
07:16 — Decline in audits

Produced by: Charlotte Morabito
Additional Reporting by: Kate Dore, Robert Frank
Additional Camera by: Andrea Miller
Edited by: Dain Evans, Nic Golden Henry
Graphics by: Mallory Brangan
Supervising Producer: Lindsey Jacobson

» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision

About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.

Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC

#CNBC

Why The IRS Is Still Struggling To Fund The Government
پارسال در تاریخ 1402/01/12 منتشر شده است.
194,270 بـار بازدید شده
... بیشتر