In an op-ed published at The New York Times, former treasury secretaries Timothy F. Geithner, Jacob J. Lew, Henry M. Paulson Jr., Robert E. Rubin, and Lawrence H. Summers, called for the strengthening of the U.S. tax system to collect legally owed but uncollected taxes, which could amount to $7 trillion over the next decade.
‘[President Biden’s] proposal calls for significant investment in the I.R.S., with $80 billion over a decade in primarily mandatory funding to provide multiyear resources to support necessary work force, service and information technology advancements,” the group writes. “In particular, the agency’s siloed and antiquated I.T. is a major source of risk, causing server crashes and leaving the I.R.S. susceptible to cyberattacks. It is imperative that the information technology undergirding our tax system keep pace with the information technology driving our economy.”
The group writes that “the Biden approach” recognizes that improving taxpayer experiences with the I.R.S. will make it easier for taxpayers to “avoid honest errors.”
Read the full op-ed over at The New York Times.