Author Topic: US Treasury’s Yellen says IRS needs to be ‘completely redone’  (Read 63 times)

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Online Kamaji

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US Treasury’s Yellen says IRS needs to be ‘completely redone’

By Reuters
January 23, 2023

US Treasury Secretary Janet Yellen on Sunday said rebuilding the Internal Revenue Service would be one of her top priorities in coming years, putting her squarely at odds with Republicans who have taken control of the House of Representatives.

Yellen told Reuters in an interview on her way to Zambia that she was thrilled that Congress had approved $80 billion in new funding to help the agency reduce a huge backlog of tax returns and better hunt down $600 billion in unpaid tax bills.

She said she decided to stay on as Treasury secretary in large part to oversee implementation of legislation like the Inflation Reduction Act, which included the IRS funding and passed on party lines last year.

Yellen lobbied hard for the extra funding to help the IRS deal with what she called massive problems, including a “huge backlog” in working through tax returns, and lack of personnel to carry out complicated audits of higher-earning taxpayers.

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Source:  https://nypost.com/2023/01/23/u-s-treasury-secretary-janet-yellen-says-irs-needs-to-be-completely-redone/
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