WASHINGTON, D.C. – The Internal Revenue Service is being warned against using funds from the Inflation Reduction Act to audit households that make less than $400,000 dollars a year.
That’s according to a letter Treasury Secretary Janet Yellin sent to IRS Commissioner Charles Rettig.
In the letter, the money allocated from the new health care and climate bill should focus on “high-end non-compliance.”
Republican critics of the $80-billion-dollar act say it will allow the IRS to target middle-class families and small businesses.
The new funds for the IRS are expected to collect $124-billion-dollars in tax revenue over the next decade.
The legislation was approved by the senate this weekend but still needs to get through the Democratic-led House.
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