WASHINGTON — The Internal Revenue Service needs to be held accountable and kept transparent – so says your Senator.
In a press release, Indiana Republican Senator Todd Young said the IRS received over 80-billion dollars from Senate Democrats through the Inflation Reduction Act, but there was no system in place to keep the IRS in check. Young, along with Senators John Thune and Chuck Grassley, says the IRS Funding Accountability Act would keep taxpayers safe.
Young has proposed a required reporting system, where the IRS would submit an annual plan detailing how it intends to use new funding. The bill would also require the IRS to provide quarterly financial updates that the Department of Treasury would be able to evaluate.
If the IRS failed to meet any of its requirements, it would be subject to fines and other financial penalties, including funds being rescinded on a daily basis until it finally complies.
