Biden names pick for new IRS head as agency plans for $80 billion funding, wrestles with backlog

Biden names pick for new IRS head as agency plans for  billion funding, wrestles with backlog


The Internal Revenue Service building in Washington.

SAUL LOEB/AFP via Getty Images

New role a ‘challenging assignment,’ former IRS commissioner says

Biden’s nomination comes at a critical time for the agency. After another difficult filing season, the IRS is still wrestling with a backlog. As of Nov. 4, there were 4.2 million unprocessed individual returns received this year, according to the agency.  

“I look at the numbers and see millions of taxpayers that are still waiting for their returns to be processed,” wrote National Taxpayer Advocate Erin Collins in a blog post Thursday. “Tax refunds are a lifeline for some taxpayers and important for almost all.”

Mark Everson, a former IRS commissioner and current vice chairman at Alliantgroup, said it’s a “challenging assignment,” and hopes for a swift confirmation from Congress.

“They need to get somebody in place promptly because the services are still inadequate, there are major questions on data security and the filing season is fast approaching,” said Everson, who served the agency under President George W. Bush.  

Treasury announces new series of I Bonds at 6.89%

Yellen in August outlined top priorities for the $80 billion in IRS funding, including clearing the backlog, improving customer service, overhauling the agency’s technology systems and hiring IRS employees to replace retiring workers.

While the influx of IRS funding has been controversial among some Republicans, Everson expects to see transparency during future hearings as the agency irons out spending plans.   

“Tax administration has become too much of a political issue,” he said. “My hope is that [Werfel] will be able to dial that down a little bit and just talk about what’s working, what’s not working and what needs to be fixed.”

IRS Commissioner Charles Rettig’s term with the agency ends Saturday.



Source

Warner Bros. Discovery books .9 billion net loss tied to Paramount deal, restructuring costs
Business

Warner Bros. Discovery books $2.9 billion net loss tied to Paramount deal, restructuring costs

An American flag flies at Warner Bros. Studio in Burbank, California, on Sept. 12, 2025. Mario Tama | Getty Images Warner Bros. Discovery on Wednesday reported a staggering net loss for the first quarter, but it has an explanation. The company booked a net loss of $2.9 billion, far larger than the net loss of […]

Read More
FanDuel CEO Amy Howe is out after five years at the sportsbook
Business

FanDuel CEO Amy Howe is out after five years at the sportsbook

FanDuel CEO Amy Howe has been ousted from that post after five years at the company, people familiar with the matter told CNBC. Christian Genetski, FanDuel president, will step in to lead the company, according to the people, who asked not to be named in order to speak about internal matters. Howe, head of the […]

Read More
Novo Nordisk CEO says the drugmaker is more active than ever in seeking out deals
Business

Novo Nordisk CEO says the drugmaker is more active than ever in seeking out deals

Novo Nordisk is looking for deals more than ever before, the CEO of the Danish drugmaker said in an interview with CNBC on Wednesday. “If our ambition is to help hundreds of millions of patients out there, then we need not just the best, but the broadest pipeline in the world,” said Novo Nordisk CEO […]

Read More