Erin Slowey

Washington, D.C., United States

IRS Reporter at Bloomberg Tax

Covering the IRS for Bloomberg @Tax • @uofsc

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Articles

IRS Commissioner Pick Billy Long Moves to Full Senate for Vote

3 days ago | news.bloombergtax.com | Chris Cioffi |Erin Slowey

The nomination of Billy Long, President Donald Trump’s pick for IRS commissioner, advanced out of committee on a party-line vote Tuesday, overcoming objections from Democrats. The Senate Finance Committee voted 14-13 to move the former GOP congressman’s nomination to a Senate floor vote.
IRS Early Resignation Offer Accepted by Almost 18,000 Employees

4 days ago | news.bloombergtax.com | Erin Slowey

Almost 18,000 IRS workers who weeks ago signaled they planned to take a resignation offer and leave the agency will do so—thousands fewer than initial estimates, according to two people familiar with the matter. Those employees signed the second deferred resignation offer that came from the Trump administration, a drop from over 23,000 who initially applied. Monday is the deadline for the workers to finalize the offer so the total number isn’t final yet.
IRS Touts ‘Successful’ Tax Season Amid Slashed Workforce, Chaos

6 days ago | news.bloombergtax.com | Erin Slowey

The IRS said 87% of taxpayers who called the agency for help during the recent filing season reached a representative, and that it continued seeing success in shortening phone wait times. As of the beginning of May, tax return filing among taxpayers was also up 1.3%. This update in Treasury Department’s budget-in-brief comes following concerns that there would be an uptick in people not paying what they owe due to worries over taxpayer privacy and deportation of immigrants.
Trump Seeks to Slash IRS Funding, Cut Enforcement, Tech Upgrades

1 week ago | news.bloombergtax.com | Erin Slowey |Erin Schilling

President Donald Trump proposed $9.8 billion in annual funding for the IRS in his budget Friday, cutting into enforcement and earmarking nothing for business system modernization even as he looks to the agency to rely more heavily on technology. The proposed IRS annual funding for fiscal 2026 is a drop from Biden’s $12.3 billion proposal last year. The proposal includes $3.6 billion in taxpayer services, $3.6 billion for enforcement, $2.6 billion in operations support.
Trump Seeks to Shrink IRS Watchdog’s Budget Amid Anti-Fraud Push

1 week ago | news.bloombergtax.com | Erin Slowey

President Donald Trump proposed gutting funding for the agency tasked with oversight of the IRS by 20% even though its mission—to reduce fraud, waste, and abuse—aligns with the administration’s efforts.
IRS Probationary Employees Asked to Return to Work by May 23

2 weeks ago | news.bloombergtax.com | Erin Slowey

The IRS and Treasury Department will bring back all IRS probationary employees who were on administrative leave by May 23, according to a email seen by Bloomberg Tax. About 7,000 probationary workers were fired in February as part of the broader effort by the Trump administration to shrink the federal government. Following court rulings, these workers were put on administrative leave and some were asked to come back full-time as the IRS considered them critical.
IRS Probationary Employees Asked to Return to Work by May 23

2 weeks ago | news.bloomberglaw.com | Erin Slowey

The IRS and Treasury Department will bring back all IRS probationary employees who were on administrative leave by May 23, according to a email seen by Bloomberg Tax. About 7,000 probationary workers were fired in February as part of the broader effort by the Trump administration to shrink the federal government. Following court rulings, these workers were put on administrative leave and some were asked to come back full-time as the IRS considered them critical.
EBay, PayPal Sellers House Relief at Risk in Senate Revenue Hunt

3 weeks ago | news.bloombergtax.com | Zach Cohen |Erin Slowey

Republicans face an internal schism over how far they want to go to give relief to millions of online sellers who received a new tax form for the first time this filing season. The House Ways and Means Committee approved legislation this week that effectively eliminates a provision of a 2021 law that significantly expanded the scope of who gets 1099-K forms to include taxpayers with more than $600 in gross payments.
EBay, PayPal Sellers’ Relief at Risk as Senators Chase Revenue

3 weeks ago | news.bloomberglaw.com | Zach Cohen |Erin Slowey

E-commerce giants eBay, Paypal, and Etsy have warned taxpayers will have no idea how to handle the new 1099-K forms. Photographer: Gabby Jones/Bloomberg May 16, 2025, 7:13 PM UTCHouse GOP tax bill restores $20,000 trigger for 1099-K formsTax writer Sen. Cassidy proposed $10,000 threshold insteadRepublicans face an internal schism over how far they want to go to give relief to millions of online sellers who received a new tax form for the first time this filing season.
GOP Plans to Halt Covid Credit Poised to Stir New Challenges

3 weeks ago | news.bloombergtax.com | Erin Slowey

House Republicans’ plan to end an expensive and troubled pandemic-era tax credit program early to help pay for other tax cuts is likely to seed a wave of new due-process issues and court challenges from businesses and nonprofits. The tax bill unveiled this week would cut short the window to claim the lucrative employee retention credit that Congress enacted in 2020 to help businesses and nonprofits keep workers during the Covid-19 pandemic.