What if we could rebuild the IRS from scratch? Not just reform it - completely reinvent it.
In episode 421 of The Accounting Podcast, I pitched an idea that goes beyond President Trump's proposed "External Revenue Service."
Instead of just collecting tariffs, let's create a "New Revenue Service" built on modern tech and processes.
Staff it with the brightest minds from tech, combined with experienced tax pros and forward-thinking IRS employees.
With the right tech, I bet the NRS could handle the nation's tax admin with just 10-20% of the current workforce.
Start with one type of return, letting the new service optimize processes from day one.
It's now 2025, and the IRS is still having people type in information from paper tax returns by hand.
If we could start over, we could easily fix these problems and build a system that is fair, works well, and benefits everyone.
Sometimes, the best way to fix a broken system isn't to try and fix it. It's to start fresh.
