Report: IRS Is Doing More with Less, Still Needs More

Posted on by Caleb Newquist

In a report released today, the inspector general said attrition and a heightened workload have combined to leave the IRS understaffed. The new hires in the agency’s small business and self-employed division resulted in a net gain of just 580 revenue officers by the end of fiscal 2010, according to the report. The IRS watchdog predicted a net gain of 127 revenue officers by the end of fiscal 2012. The study could affect the debate over funding for the agency. It comes two days before IRS Commissioner Douglas Shulman is scheduled to testify before a congressional panel on the agency’s budget. The inspector general warned that, unless the IRS is fully staffed, compliant taxpayers are at a disadvantage. “If the IRS does not have a sufficient number of qualified” revenue officers, the report said, “it could create an unfair burden on the majority of taxpayers who fully pay their taxes on time.” [Bloomberg]

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Would the IRS Take the Heisman Trophy as Payment for Back Taxes?

Maybe! But we’ll get back to that in a minute.

There was a fair amount schadenfreude aimed at the University of Southern California when the school was slapped with sanctions a couple weeks back and at Reggie Bush for his role in the whole sitch.

How Bush really feels about it seems to be a mystery since he’s been quoted saying, “[This] is the closest thing to death without dying” but also a less passionate response, “Whatever happens, happens.”

Borderline schizophrenia aside, Fox News reports that Reg might have to pay some back taxes on the estimated $300,000 in luxury gifts he allegedly received:

“If the entire $300,000 is determined to be taxable,” Los Angeles-based CPA Mark Greenberg said, “about 50 percent of that would go to the IRS and Franchise Tax Board. And with penalties and interest, it could go up to 60 percent since it’s going back a few years.”

Greenberg estimates that Bush, now the star running back for the New Orleans Saints, “ultimately will wind up paying about $150,000,” but “it could be up to $200,000” if his financial team can’t get the penalties and interest waived.

We’re sure Bush would never have to give up his trophy a la the Juice since A) he didn’t kill anyone and B) his sponsors are still firmly in his corner, so the money shouldn’t be a problem. That being said, having the IRS snooping around your financial situation is about annoying as a Keeping Up with the Kardashians marathon.