The IRS Advisory Council (IRSAC) exists to provide an organized public forum for senior IRS executives and representatives of the public to discuss relevant tax issues. In its recently released annual report, IRSAC made several recommendations, including:
- IRS needs sufficient funding to operate efficiently, provide timely and useful guidance to taxpayers, and enforce current law, so that respect for our voluntary tax system is maintained.
- IRS should continue to expand voluntary correction programs to facilitate taxpayers’ self-reporting of prior year noncompliance.
- IRS should engage in “risk assessing” large taxpayers.