Yellen Says Debt Deal’s $21 Billion IRS Clawback Won’t Affect ‘Near-Term’ Plans

Treasury Secretary Janet Yellen said Congress’ clawback of more than a quarter of the funding previously approved for a rebuilding of the Internal Revenue Service won’t hinder the agency’s near-term goals to improve service and ramp up enforcement.

“I want to assure you that the IRS has the resources it needs in the near term – to modernize customer service and improve enforcement among high earners and large corporations that are not paying the taxes they owe,” Yellen said in a speech Thursday.