2 of 2 - IRS budget spared as agency seeks revenue from TAX CHEATS

via: Bloomberg

The Internal Revenue Service avoided a $603 million budget cut proposed by HOUSE REPUBLICANS, preventing changes that could have cost the government $4 BILLION in UNCOLLECTED REVENUE.

Under the proposed spending bill released today, the IRS budget for fiscal year 2011 would be $12.1 billion, or 0.2 percent less than in fiscal 2010. That level would subject the IRS to the same across-the-board funding cut as all domestic, non-defense agencies.

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Senator Carl Levin, a Michigan Democrat who has called for the IRS to be more aggressive in pursuing offshore tax evasion, today said Congress should give the agency more resources.

“It’s going to hurt,” he said. “I think it’s a mistake. We ought to be INCREASING their enforcement budget instead of DECREASING it.”

http://www.bloomberg.com/news/2011-04-12/irs-is-spared-u-s-budget-cuts-as-agency-seeks-revenue-from-tax-scofflaws.html

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“You must spend money to make money”

- Titus Maccius Plautus (c. 254 – c. 184 B.C.)