In a recent U.S. House Appropriations Financial Services and General Government Subcommittee hearing, Treasury Secretary Scott Bessent discussed several topics, including how the IRS would ensure the equitable distribution of enforcement actions. Bessent said the agency was reviewing current processes, including “who is audited and why they are audited.” Committee members, including some Republicans, expressed concern about IRS budget and staffing cuts and whether the cuts might “sabotage” collections. Bessent claimed they wouldn’t. He also opined that Congress should make permanent the Tax Cuts and Jobs Act provisions currently being considered for the budget reconciliation bill.
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