Daniel Werfel pledged Wednesday that if he is confirmed by the Senate to become the next commissioner of the IRS, the tax agency will not use its $80 billion funding boost from Congress to go after households making less than $400,000 per year.
The Biden nominee told lawmakers during his confirmation hearing before the Senate Finance Committee that he is “committed to meeting” a directive from Treasury Secretary Janet Yellen that the Internal Revenue Service will not increase audit rates — relative to historic levels — for small businesses and households bringing in under $400,000.
The rest of the funding is meant to bring the IRS into the digital age by upgrading its decades-old technology and chipping away at its backlog of processing tax returns. Republicans said their fears about the IRS balking on its $400,000 audit threshold pledge stem from the lack of explicit directive under the law, giving Biden administration officials wide discretion.
“I really want to earn this committee’s trust, and I think as a former budgeteer, I will earn your trust by putting together a very clear plan that articulates where the money is going,” Mr. Werfel said. Pressed by Sen. James Lankord, Oklahoma Republican, about his stance on new IRS rules for reporting transactions through platforms such as Venmo and PayPal totaling more than $600, Mr. Werfel was ambiguous.
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