In his opening statement, Crapo discussed how the IRS recently overlooked statutory deadlines for implementing new laws, including third-party network reporting and electric vehicle (EV) tax credits. Wyden expressed support for Werfel’s nomination. He said a decade of Republican budget cuts gutted the IRS’s ability to do the kind of in-depth enforcement work it takes to make sure corporations and the wealthy are paying what they owe, noting that over the last decade, audit rates of wealthy taxpayers making more than $5 million a year fell by 90 percent. Wyden noted that although working people and the middle class have a 99% rate of compliance with the tax code, working families who claim the Earned Income Tax Credit are audited far more often than the wealthy. He concluded by maintaining improving technology and staffing up the customer service will serve as a big win for law-abiding families and small businesses. He continued by acknowledging the IRS is now getting the resources it needs to go after tax cheating by the wealthy and corporations. First, Wyden noted Democrats are focused on ending the two-tiered system of enforcement in the tax laws, adding audit rates are much higher for those with modest means. In his opening statement, Wyden said he wanted to highlight three main points related to the IRA. Opening Statements Chairman Ron Wyden (D-Ore.) Werfel, Nominee, Commissioner of Internal Revenue
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