The IRS has a new buyout program that encourages employees to accept early retirement. Under the new buyout program, about 400 employees are being offered $25,000 to exit the IRS early. This program is similar to the buyout offer that emerged last November. The November buyout also promised $25,000 to those that accepted early retirement.
The buyout program has emerged on the heels of reports made to Congress regarding increasing workloads expected from IRS employees just as lawmakers threaten budget cuts at the IRS. The increasing complexity of the Tax Code, frequent changes in tax laws, and demands for IRS employees to help oversee programs such as the health care reform law have placed a large strain on the Service’s resources. Currently, it is estimated that the IRS employs approximately 100,000 employees.
For more information, read IRS Offers Early Retirement Buyouts to Employees: Accounting Today. As always, please feel free to contact your Las Vegas CPAs if you have any questions.
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