IRS On Applying Big Data – Travis Thompson Comments

In the taxnotes article "IRS Seeks Outside Help Applying Big Data" , author Lauren Loricchio discusses how the IRS has issued a request for information to explore how contractors can assist in leveraging big data to tackle noncompliance issues. The agency seeks support in implementing data analytics and cutting-edge technology to assess past activities, identify present functional needs, and make data-driven recommendations for future business performance metrics. The initiative is prompted by increased funding from the Inflation Reduction Act, as the IRS aims to scale up its artificial intelligence capabilities and predictive analytics to enhance compliance and enforcement efforts. By seeking external assistance, the IRS intends to bolster its workforce and protect valuable data while aligning with the technological advancements shaping the future.