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House advances IRS funds clawback, crypto rule block [1]

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Date: 2025-03-12 10:02:46+00:00

Spending Bill With $20 Billion IRS Cut Heads to Senate

The ball is now in the Senate’s court to prevent a March 14 government shutdown, after House Republicans passed a bill Tuesday to fund agencies through Sept. 30, before adjourning for a week and a half.

The House GOP measure, which passed the chamber in an almost exclusively party-line vote, would claw back roughly $20 billion in IRS enforcement funds. That would come on top of the $20 billion already rescinded. The IRS originally received a total of about $80 billion in funds in the Democrats’ 2022 tax-and-climate law.

The ...

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[1] Url: https://news.bloomberglaw.com/daily-tax-report/house-advances-irs-funds-clawback-crypto-rule-block

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