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Yellen Sets Six-Month Timeline for IRS Plan to Target Tax Cheats

  • Treasury chief sets broad objectives after new legislation
  • $80 billion won’t be used to audit middle-income households
Janet Yellen

Janet Yellen

Photographer: Ting Shen/Bloomberg

Treasury Secretary Janet Yellen set a six-month timeframe for the Internal Revenue Service to compile a plan detailing how it will deploy an influx of $80 billion in enforcement funding over the next decade.

“The work will require an all-hands-on-deck approach from the dedicated employees of the IRS,” Yellen wrote in a memo Wednesday to IRS Commissioner Charles Rettig, a day after President Joe Biden signed legislation including the new funding.