IRS says beats US tax filing season service goals, needs funding sustained

WASHINGTON, April 15 (Reuters) - The Internal Revenue Service started tax filing deadline day on Monday by announcing that it had exceeded its goals for speeding assistance to taxpayers and cutting phone hold times to three minutes, and underscoring the need for Congress to maintain adequate funding for the tax agency. THE TAKE: The IRS is completing its second tax return filing season with increased funding from the 2022 Inflation Reduction Act, which initially provided $80 billion in funding over 10 years to modernize the agency, improve taxpayer services and boost enforcement. That has since been reduced to $60 billion by Republicans in Congress, and lawmakers continue to argue over the IRS' separate annual operating budget. The IRS has poured its initial resources into improving taxpayer services, digitizing filing capabilities and launching a pilot free-filing system. BY THE NUMBERS: The IRS said it has cut its average call wait time on its main taxpayer helpline to three minut