TaxWatch: IRS should brace for ‘broad and deep’ scrutiny if Republicans win midterm elections. Here’s why every taxpayer should care.

by | Nov 4, 2022 | Stock Market

Less than three months ago, a bill dedicating $80 billion for sweeping technological upgrades, staff additions and more enforcement at the Internal Revenue Service passed with no Republican votes, but a lot of fiery GOP criticism. Republican lawmakers could wind up with a majority in the House of Representatives and Senate after the dust settles on midterm elections. Polls point to Republicans taking the House, but the Senate being a closer call.

If there is a changing of the guard in both Houses of Congress, where would that leave the IRS, which still has to explain how it’s using the windfall? With an extra skeptical audience on Capitol Hill that’s going to scrutinize the tax agency’s every move, according to ex-IRS officials and experts. Republicans may not gain two-third majorities to repeal the $80 billion and then override a presidential veto, observers say. But with the Inflation Reduction Act’s funding due to be released over the next decade in addition to annual appropriations, there are other ways a Republican-controlled House of Representative and Senate could make their presence felt.

“‘If Republicans take one or both Houses next week, I expect Congressional oversight by the Republicans to be both broad and deep.’”

— Dave Kautter, former acting IRS commissioner from 2017 to 2018 during the Trump administration

“If Republicans take one or both Houses next week, I expect Congressional oversight by the Republicans to be both broad and deep. Ma …

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