IRS 2014 Budget

Under the House and Senate 2014 budget agreement reached in January 2014, the IRS will receive $11.3 billion, which is $526 million below its 2013 budget and $1.7 billion less than President Obama requested. Additionally, the agreement requires the IRS to increase its reporting to Congress and it prohibits the use of any funds to single out groups based on their ideological beliefs or “to target citizens for exercising their First Amendment rights.”

With the drastic cut in funding, Congress is publicly reprimanding the IRS for the 2013 scandal over targeting political organizations.

In December 2013, the Senate confirmed the nomination of John Koskinen as the new Commissioner of the IRS. Koskinen is recognized as a corporate restructuring expert. He previously served as the Non-Executive Chair of Freddie Mac. The hope is that Koskinen will be able to restore confidence in the IRS as he did with Freddie Mac.

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