“This news stands in stark contrast to the approach taken by House Republicans, who want to allow wealthy tax cheats to continue business as usual,” said U.S. Senate Finance Committee Chair Ron Wyden.

By Jessica Corbett. Published 9-8-2023 by Common Dreams

The U.S. Internal Revenue Service on Friday won praise from congressional Democrats and progressive groups for announcing “a sweeping, historic effort to restore fairness in tax compliance by shifting more attention onto high-income earners, partnerships, large corporations, and promoters abusing the nation’s tax laws.”

The IRS effort is enabled by some of the $80 billion in funding for the agency included in the Inflation Reduction Act (IRA), which President Joe Biden signed into law last year. About a quarter of that money is set to be clawed back as part of his recent deal with congressional Republicans to temporarily suspend the nation’s debt limit.

Continue reading →