IRS Has ‘Not Yet Finalized’ How Middle Class Will Be Affected By $80 Billion Windfall

IRS Has ‘Not Yet Finalized’ How Middle Class Will Be Affected By $80 Billion Windfall


A report from the Internal Revenue Service released last week indicated that officials are devoting much of the agency’s recent funding windfall toward audits even as the degree to which the actions will impact everyday taxpayers remains uncertain.

President Joe Biden’s Inflation Reduction Act recently approved $80 billion for the tax enforcement agency. Treasury Secretary Janet Yellen previously said that the funding will enable staff members to upgrade information technology systems and more easily assist individuals and small businesses seeking to file their taxes; a report from the Treasury Inspector General for Tax Administration, however, indicated that the agency has not yet decided how the actions enabled by the funds will impact audit rates for middle-income taxpayers.

The document noted that the Inflation Reduction Act earmarked $45.6

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