Biden team pushes to allay concerns about tax enforcement funds
2 years, 4 months ago

Biden team pushes to allay concerns about tax enforcement funds

Al Jazeera  

US Treasury secretary directs IRS chief against using new resources to audit more households making less than $400,000. After a Republican outcry over a bill providing more funding to the Internal Revenue Service, Treasury Secretary Janet Yellen has directed the United States tax agency’s chief against using the new resources to increase audits for households making below $400,000 annually. Democrats’ new army of 87,000 IRS agents will be coming for you—with 710,000 new audits for Americans who earn less than $75k,” House Minority Leader Kevin McCarthy wrote on Twitter on Tuesday. And with 87K new IRS agents, they’re coming for YOU too.” For his part, Senator Marco Rubio, a Florida Republican, wrote on late Monday: “After todays raid on Mar A Lago what do you think the left plans to use those 87,000 new IRS agents for?” Meanwhile, the Biden administration has pushed to allay some of the concerns about the IRS funding. In a letter to the Senate earlier this month, Rettig, the IRS commissioner, said the new resources are “absolutely not about increasing audit scrutiny on small businesses or middle-income Americans”.

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History of this topic

Biden Administration Wants To Protect IRS Funding As Budget Deadline Nears
3 weeks, 6 days ago

Biden Administration Wants To Protect IRS Funding As Budget Deadline Nears

Huff Post  

LOADING ERROR LOADING President Joe Biden’s administration wants Congress to maintain additional funding for the IRS to help it track down tax scofflaws and provide faster customer service, warning that letting the funding expire would add to the budget deficit. House Republicans in particular have been critical of the Inflation Reduction Act, calling its clean energy tax subsidies wasteful and …

The IRS is at risk of losing $20 billion in funding without legislative intervention
3 weeks, 6 days ago

The IRS is at risk of losing $20 billion in funding without legislative intervention

Associated Press  

WEST PALM BEACH, Fla. — Already bracing for funding cuts under a new Trump administration, U.S. Treasury officials are calling on Congress to unlock $20 billion in IRS enforcement money that is tied up in legislative language that has effectively rendered the money frozen. ”If they don’t get that $20 billion that is at risk they would run out of …

Column: Something for Biden to brag about — his IRS funding more than pays for itself
9 months, 2 weeks ago

Column: Something for Biden to brag about — his IRS funding more than pays for itself

LA Times  

It goes without saying that President Biden will take the podium for Thursday’s State of the Union address armed with facts and figures of all that he’s accomplished for the American people during his term. That’s the outcome of a provision of the Inflation Reduction Act of 2022, which endowed the IRS with $80 billion in new funding over 10 …

Treasury’s Yellen calls Republican effort to cut IRS funding for Israel ‘damaging and irresponsible’
1 year, 1 month ago

Treasury’s Yellen calls Republican effort to cut IRS funding for Israel ‘damaging and irresponsible’

Associated Press  

WASHINGTON — Treasury Secretary Janet Yellen called Republicans’ most recent round of proposed funding cuts to the IRS “damaging and irresponsible” during a Tuesday event meant to commemorate new customer service improvements to the agency. “Playing politics with IRS funding is unacceptable,” Yellen said, referring to an aid bill that passed the House last week that would cut $14 billion …

IRS says it collected $38 million from more than 175 high-income tax delinquents
1 year, 5 months ago

IRS says it collected $38 million from more than 175 high-income tax delinquents

Associated Press  

WASHINGTON — The IRS is showcasing its new capability to aggressively audit high-income tax dodgers as it makes the case for sustained funding and tries to avert budget cuts sought by Republicans who want to gut the agency. IRS leaders said they collected $38 million in delinquent taxes from more than 175 high-income taxpayers in the past few months. Last …

IRS pledges more audits of wealthy, better customer service
1 year, 8 months ago

IRS pledges more audits of wealthy, better customer service

Associated Press  

WASHINGTON — The IRS released details Thursday on how it plans to use an infusion of $80 billion for improved operations, pledging to invest in new technology, hire more customer service representatives and expand its ability to audit high-wealth taxpayers. While some Republicans have suggested without evidence that the money from the Democrats’ landmark climate change and health care bill …

IRS Chief Seeks To Reassure Taxpayers About Increased Enforcement
1 year, 8 months ago

IRS Chief Seeks To Reassure Taxpayers About Increased Enforcement

Huff Post  

LOADING ERROR LOADING New funding will help the Internal Revenue Service crack down on rich tax cheats while greatly improving service to middle-class households, IRS Commissioner Danny Werfel said Thursday. Werfel said it was too soon to say whether the IRS would eventually hire the 87,000 employees that have become a fixture of Republican talking points about the supposed “weaponization” …

House GOP's First Bill Would Slash IRS Budget ― And Cost The Government Money
1 year, 11 months ago

House GOP's First Bill Would Slash IRS Budget ― And Cost The Government Money

Huff Post  

LOADING ERROR LOADING WASHINGTON ― Republicans on Monday approved their first piece of legislation since taking charge of the House of Representatives: a bill rescinding $71 billion in extra funding for the Internal Revenue Service. “Adds to the deficit.” The deficit haters at the Committee for a Responsible Federal Budget said the bill would “encourage tax cheating” by making it …

GOP campaigns against the IRS, vowing to slash its funding
2 years, 2 months ago

GOP campaigns against the IRS, vowing to slash its funding

Associated Press  

WASHINGTON — IRS pleas for more funding from Congress — made over the years by one leader after another — finally paid off this summer when Democrats tucked an $80 billion boost for the agency into their flagship climate and health care law. “The purpose of the funding is to modernize a severely underfunded agency to provide the American people …

Posts, campaign ads distort IRS funding
54 years, 11 months ago

Posts, campaign ads distort IRS funding

Associated Press  

CLAIM: Democratic senators in summer 2022 voted to hire an army of 87,000 IRS agents who will audit and harass the middle class. “Yes, every Democrat voted to hire 87K new IRS agents to audit the middle class,” tweeted Stephen Miller, who served as a top aide to former President Donald Trump. “Politician Cheri Beasley supported spending billions to hire …

Why Republicans Are Attacking IRS Funding In Biden's Inflation Reduction Act
2 years, 3 months ago

Why Republicans Are Attacking IRS Funding In Biden's Inflation Reduction Act

Huff Post  

The IRS may have unwittingly helped thousands of superrich Americans stash their wealth in offshore "shell banks," a recent U.S. Senate investigation found. But Brockman got around the law by hiding his money in foreign shell companies which he then turned into “shell banks” by registering the shell companies with the IRS as offshore financial institutions. Both institutions argued that …

Column: No, Tucker Carlson, armed IRS agents won’t come for Americans’ money
2 years, 3 months ago

Column: No, Tucker Carlson, armed IRS agents won’t come for Americans’ money

LA Times  

My dad was an armed IRS agent, gun-toting for good reason. Republicans and right-wing pundits who are claiming otherwise — “Democrats’ army … will be coming for you,” House Minority Leader Kevin McCarthy warns — are liars. Despite one fact-check after another after another, Republicans and right-wing media stars are unchastened in claiming, as McCarthy does, that the Democrats will …

Treasury Secretary Yellen gives IRS six months to kickstart its $80billion overhaul
2 years, 4 months ago

Treasury Secretary Yellen gives IRS six months to kickstart its $80billion overhaul

Daily Mail  

Treasury Secretary Janet Yellen is directing the Internal Revenue Service to begin formulating a plan on how to use the $80 billion funds granted by Democrat's Inflation Reduction Act a day after President Biden signed it into law Treasury Secretary Janet Yellen on Wednesday instructed the Internal Revenue Service to begin hatching a plan for the use of $80 billion …

Yellen tells IRS to develop modernization plan in 6 months
2 years, 4 months ago

Yellen tells IRS to develop modernization plan in 6 months

Associated Press  

WASHINGTON — Now that President Joe Biden signed Democrats’ expansive climate, tax and health care bill into law, Treasury Secretary Janet Yellen has directed the IRS to develop a plan within six months outlining how the tax agency will overhaul its technology, customer service and hiring processes. In part, the improvements are meant to “end the two-tiered tax system, where …

Biden team pushes to allay concerns about tax enforcement funds
2 years, 4 months ago

Biden team pushes to allay concerns about tax enforcement funds

Al Jazeera  

US Treasury secretary directs IRS chief against using new resources to audit more households making less than $400,000. After a Republican outcry over a bill providing more funding to the Internal Revenue Service, Treasury Secretary Janet Yellen has directed the United States tax agency’s chief against using the new resources to increase audits for households making below $400,000 annually. Democrats’ …

AP FACT CHECK: GOP skews budget bill’s impact on IRS, taxes
2 years, 4 months ago

AP FACT CHECK: GOP skews budget bill’s impact on IRS, taxes

Associated Press  

Republican politicians and candidates are distorting how a major economic bill passed over the weekend by the Senate would reform the IRS and affect taxes for the middle class. SEN. TED CRUZ, R-TEXAS: “The Manchin-Schumer bill will create 87,000 new IRS agents to target regular, everyday Americans.” — Friday tweet. More than half of IRS employees who work in enforcement …

Tougher IRS enforcement central to Dem economic package
2 years, 4 months ago

Tougher IRS enforcement central to Dem economic package

Associated Press  

WASHINGTON — After more than a decade of mostly losing out, the Internal Revenue Service may finally get the cash infusion it’s long wanted in the economic package that Democrats are working furiously to push through Congress before their August break. Sen. Tom Carper, D-Del., a longtime member of the Senate Finance Committee, said he hears the same thing from …

Nearly 100 banks, trade groups warn against modified Biden IRS plan
3 years, 1 month ago

Nearly 100 banks, trade groups warn against modified Biden IRS plan

Daily Mail  

A group of 99 banks and industry groups wrote a letter to President Biden on Monday urging him to drop his proposal to hand over transaction data to the IRS, noting that they were not satisfied with simply raising the threshold from $600 to $10,000. The banking groups lauded the administration's 'good-faith attempt' to make sure all Americans pay the …

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