Yellen defends IRS against cuts, plans ambitious tax season
Treasury Secretary Janet Yellen addressed a group of Internal Revenue Service employees Tuesday as the agency fends off budget cuts pushed by House Republicans.
Treasury Secretary Janet Yellen addressed a group of Internal Revenue Service employees Tuesday as the agency fends off budget cuts pushed by House Republicans.
The Senate Finance Committee this week voted to advance Daniel Werfel’s nomination to become IRS commissioner amid fierce debate over the agency’s $80 billion in funding.
President Joe Biden’s nominee to lead the IRS answered questions during a Senate Finance Committee hearing this week, highlighting key issues from lawmakers on both sides of the aisle.
The National Taxpayer Advocate expressed hope that better days were ahead for the tax collection agency.
House Republicans on Monday night voted to slash funding for the IRS, following a pledge from newly-elected Speaker Kevin McCarthy to repeal the money approved by Congress last year.
The measure, one of the new majority’s first legislative moves, would cut billions in funding that Democrats passed to help crack down on tax cheats. It does not have enough votes to pass the Senate