Tax

Six committees of the Taxpayer Advocacy Panel — including the one focused on toll-free phone lines such as the Practitioner Priority Service line — meet to hear public suggestions for customer service days after the IRS released its plan for an $80 billion influx of money.

The IRS released its long-awaited strategic plan for spending the $80 billion it was allocated by last year’s Inflation Reduction Act. Over the first three years, the plan focuses on operations support, enforcement, business systems modernization, and taxpayer services.

On its annual list, the IRS included a warning to tax pros and businesses to be cautious about opening emails and clicking on links that could result in identity theft.

The IRS reached the halfway point of its annual “Dirty Dozen” list of tax scams, advising that taxpayers be careful when choosing a preparer to handle their returns.

Pending further guidance that it intends to issue on the treatment of nonfungible tokens as collectibles, the IRS said that it will use a lookthrough analysis for determining if an NFT is a collectible.

National Taxpayer Advocate Erin Collins wrote in her blog post Thursday that Congress should allocate more money from the Inflation Reduction Act’s $80 billion budget infusion over 10 years for the IRS to taxpayer services and business systems modernization and less to enforcement and operations.

The Senate voted 54–42 on Thursday to approve Werfel, a former acting IRS commissioner who has served under both Democratic and Republican administrations.