![]() ![]() That promise could also complicate a separate effort by the agency to improve tax collections among people holding cryptocurrencies.Īnd it’s unclear what the administration means by “relative to recent years.” Audit rates have fallen in recent years, thanks to tight budgets as well as the coronavirus pandemic, and the administration may not want to be bound by those reduced rates. There would likely be instances where the agency doesn’t really know how much someone earned until after they’re audited. That could be tricky in some circumstances. ![]() Treasury Secretary Janet Yellen delivers remarks during a press conference at the Treasury Department in Washington, D.C. That prompted the administration to release a letter Wednesday by Treasury Secretary Janet Yellen pledging “audit rates will not rise relative to recent years for households making under $400,000.” And they’re promising not to increase audit rates for those with incomes under $400,000.ĭemocrats had included provisions in their legislation to that effect, though it was deleted by the Senate’s parliamentarian as a violation of the chamber’s arcane rules about what sorts of things can go into so-called reconciliation bills. Democrats scoff, saying they are only interested in high-end tax evasion by the rich and big corporations. Republicans say all those people will inevitably mean more audits for average Americans. It hasn’t decided how many more auditors it will need, said Natasha Sarin, the agency’s counselor for tax policy and implementation. (About 31,000 or roughly 40 percent of the IRS’s current employees are classified by the agency as working in “examinations and collections.”)īut the administration wants to do all sorts of other things too, such as improving customer service, that will mean hiring across the entire agency. That’s been a big emphasis for Democrats, and Congress earmarked more than half of the IRS money - $46 billion - to beef up enforcement. ![]() The administration was very specific about how many people it wants to hire each year, but it hasn’t provided many details about what all those people would be doing. ![]()
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