What’s to become of IRA funding of the IRS? TaxNotes reports (paywall) that the stopgap funding bill keeping the federal government funded through December 20 could rescind $20.2 billion in IRS enforcement funds made available through the Inflation Reduction Act (IRA). That would nearly drain that account if the rescission is included in the final fiscal 2025 budget deal.  

Where do the major party candidates stand on tax policy? Large pieces of the 2017 Tax Cuts and Jobs Act (TCJA) are set to expire in 2025, but so far, neither candidate has shared a comprehensive, detailed tax plan. TPC’s new feature breaks down each candidate’s stances on tax policy. 

TIGTA: IRS employee selection process taking too long in many cases. In its report released last week, the Treasury Inspector General for Tax Administration (TIGTA) found that more than one-third of the IRS’s 52,789 hirings between October 1, 2021, and September 30, 2023, took longer than the agency’s 80-day target period. Contributing factors include communication lapses and the high volume of cases assigned to hiring staff. The IRS plans to improve training for employees involved in the hiring process. 

Boston Mayor Michelle Wu proposes a three-year tax increase for commercial properties. Commercial property tax revenue has been falling, and the city has relied heavily on property taxes to fund city services in recent years.  Wu has proposed a three-year tax increase for commercial properties as an alternative to raising residential property taxes.  

Congress is not in session. The Daily Deduction will post Mondays and resume its regular schedule on November 11.  

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