WASHINGTON—Today, U.S. Deputy Secretary of the Treasury Wally Adeyemo kicked off a series of roundtable discussions with key stakeholders to get advice on improving and modernizing the IRS as part of the Inflation Reduction Act implementation.
The Inflation Reduction Act, passed by Congress earlier this year, invests $80 million for the IRS to modernize tax administration in this country. The IRS is currently developing a Strategic Operating Plan, which will set out a path for a historical transformation of the IRS over 10 years. To inform this plan, Secretary Yellen and Deputy Secretary Adeyemo will hear from leaders, advocates, and critical stakeholders on how best to improve IRS services and improve tax fairness.
As part of this outreach, Deputy Secretary Adeyemo convened a roundtable discussion with small business stakeholders from across the country to identify ways in which a modernized IRS can deliver improved service for small businesses in the years ahead.
During the conversation, Deputy Secretary Adeyemo focused on the challenges small businesses face – from brick and mortar to online businesses in all regions of the country – as a result of chronically reduced funding over the past several decades. Participants discussed the importance of improved customer service as well as the need for a tax administration that can communicate seamlessly across digital platforms.
The Deputy Secretary underscored the opportunity to revitalize the agency in ways that not only improve the ability of small businesses to communicate more expediently with IRS employees, but that ensure IT modernization efforts reflect the real-world needs of local business owners whose livelihoods depend on a reliably efficient, effective IRS.
The Deputy Secretary and small business stakeholders were joined by U.S. Treasury officials, including Counselor for Tax Policy and Implementation Natasha Sarin.