FILE - A sign for the Internal Revenue Service building in Washington, May 4, 2021. The IRS plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade, the U.S Treasury says.
“President Biden’s Inflation Reduction Act is increasing tax fairness and ensuring that all wealthy taxpayers pay the taxes they owe, just like working families do,” Treasury Secretary Janet Yellen said in a statement.Maryland hikes vehicle registration fees and tobacco taxes Eugene Steuerle, a fellow and co-founder of the Urban-Brookings Tax Policy Center, said if the IRS “can show they’re having a positive impact and it’s not impacting average American taxpayers, there would be more public support for this activity and the agency.”
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