Danny Werfel, President Joe Biden’s nominee to lead the IRS, said during his confirmation hearing that he will not use boosted funding to increase audits of those earning under $400,000.
Werfel testified on Wednesday before the Senate Finance Committee and faced questions about the controversial Internal Revenue Service funding provision within the Democrat-backed Inflation Reduction Act. The legislation dedicated $80 billion in funding to the IRS, a big chunk of which goes toward enforcement — something Republicans have said could lead to excessive audits.
“Therefore, if I am fortunate enough to be confirmed, the audit and compliance priorities will be focused on enhancing the IRS’s capabilities to ensure that America’s highest earners comply with applicable tax laws,” Werfel said. “Also front and center will be efforts to modernize and dramatically improve taxpayer service.”
The analysis found that of the revenue projected to be raised from underreported income, 40% to 57% would come from taxpayers earning $50,000 or less, 78% to 90% would come from taxpayers making less than $200,000 annually, and just 4% to 9% would come from those earning more than $500,000 per year. Last August, Yellen sent a letter to the IRS directing it not to increase audits for taxpayers earning below that threshold.
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