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Audit rates for the wealthiest Americans are nearly 80% lower than they were a decade ago, driving the tax gap to an estimated $1 trillion annually. Sen. Elizabeth Warren of Massachusetts wants to close that gap and hold the wealthy accountable by strengthening the budget of the Internal Revenue Service (IRS).

On Monday, Warren introduced the Restoring the IRS Act of 2021, which would remove the agency’s base budget from the annual appropriations process and provide $31.5 billion in mandatory funding. This would nearly triple the IRS budget — it received $11.9 billion details ⇒

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