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May 13, 2024
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the eitc ideas, there are three different ideas. one is for a 40% increase along the whole scale. the other is to have a steeper run-up, 70% instead of 40%. a plateau that is higher but then it's a shorter flat. back to you the same phaseout. and then there's this idea of combining really of the eitc with ctc type payment for families that have zero or very, very low taxable income. you don't have to start at zero. you can start at 1000. that is what we provide as an example. and then you can still have it run up at 40%, say, for a family of three. so the work incentives are preserved and then a higher top and in the same kind of fadeout. some of those are rather expensive. we've got estimates and don't member them offhand but that was the extent of our coming up with ideas. we were somewhat disciplined i think self-discipline in trying to keep costs somewhat modest, although 30 million, 40 million isn't such a modest amount. we didn't really speculate this is the same that's june 2019 report, the roadmap report that i was part of. one thing is you really want to stay anchored to
the eitc ideas, there are three different ideas. one is for a 40% increase along the whole scale. the other is to have a steeper run-up, 70% instead of 40%. a plateau that is higher but then it's a shorter flat. back to you the same phaseout. and then there's this idea of combining really of the eitc with ctc type payment for families that have zero or very, very low taxable income. you don't have to start at zero. you can start at 1000. that is what we provide as an example. and then you can...
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May 2, 2024
05/24
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the significant things that independent study reported was driving the disparity was the volume of eitc. one of the key things we have announced is a significant, dramatic reduction in the number of eitc audits plan for this coming tax year as a way to address it. we are testing changes in the audit selection algorithm and we have a hypothesis it will remediate the disparate impact that has been occurring. we will take a little time to validate that and we hope to update that maybe in the fall where we have more data to make sure we are reporting publicly that the steps we took had the impact that we wanted it to have. >> i will definitely be awaiting such a report. i think it is really important we don't target certain populations, especially underserved populations. for something as important but not often claimed like the earned income tax credit so i look forward to working with you in any way i can to address this issue. as you rightfully said, it is disproportionately affecting african american taxpayers. it really is unacceptable in this day and age so i look forward to working w
the significant things that independent study reported was driving the disparity was the volume of eitc. one of the key things we have announced is a significant, dramatic reduction in the number of eitc audits plan for this coming tax year as a way to address it. we are testing changes in the audit selection algorithm and we have a hypothesis it will remediate the disparate impact that has been occurring. we will take a little time to validate that and we hope to update that maybe in the fall...
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May 2, 2024
05/24
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for example, how many younger workers got the eitc in 2021 but are excluded under current law or foster youth use their provisions on how many more working parents benefited from the refundable it cdctc not under current law. do you have any updates you can share with us about who benefited and how from the 2021 earned income tax credit and cdctc enhancements compared to other years? i'm proud i helped lead the p effort to make the davita program permanent. i know that the internal revenue services, i.r.a. strategic operating plan initiatives 1.9 includes the goal of expanding the coverage and scope of the free tax reparation programs. any specific strategies been identified for accomplishing that goal and how has the irs involved organizations developing those strategies? >> thank you for those questions, congressman. on your data question, we have awareness of that question with research and analytics team working to get you an answer as quickly as possible. i will say, i will connect your first question to the second question, we know there are people eligible for earned income tax c
for example, how many younger workers got the eitc in 2021 but are excluded under current law or foster youth use their provisions on how many more working parents benefited from the refundable it cdctc not under current law. do you have any updates you can share with us about who benefited and how from the 2021 earned income tax credit and cdctc enhancements compared to other years? i'm proud i helped lead the p effort to make the davita program permanent. i know that the internal revenue...
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May 1, 2024
05/24
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market or employers who hire people who take advantage of the eitc . as far as employers, they see the earned income tax credit as phaseout, people don't want to work anymore, right? depending upon the family size, somewhere between 16 and $20,000, it kind of discourages work, right? because they begin to take it away and of course you are discouraging work by taking away the eitc and at the same time, low income housing and s.n.a.p. and everything else. are you aware when you are employing people in the 10 to $15 an hour range it is common for them to recite stories of employees who don't want to work more or don't want raises because it will take away their government benefits. >> we had a similar exchange last year. with eitc, child tax credit, we haven't seen data that supports that. we have actually seen the opposite. the research i've seen on the child tax credit for example, families who have enough income who need to put their touch kids -- kids in childcare. we haven't seen that data. >> i asked about that last year. >> in similar vein does it
market or employers who hire people who take advantage of the eitc . as far as employers, they see the earned income tax credit as phaseout, people don't want to work anymore, right? depending upon the family size, somewhere between 16 and $20,000, it kind of discourages work, right? because they begin to take it away and of course you are discouraging work by taking away the eitc and at the same time, low income housing and s.n.a.p. and everything else. are you aware when you are employing...
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May 11, 2024
05/24
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you all talked about eitc, minimum wage, unionization baby bonds in a couple of other things. these are things that can directly focus on the those in poverty but at lease than what you've said and scanning through i see nothing about what we should do about essentially reducing this force where the wealthy is -- and it's trickling down. should the expand views to look at the flip side of this issue? >> i think again within the parameters of our charge, i mean you might be correct that truly redistributive policies and income taken taken from the top and transferring to the bottom short -- certainly in the short term would reduce poverty and exactly how to do that we are not clear on so there is a lot of literature on income transfer programs andnc their impact on labor supply. the question is how you would take that wealth at the top and translated in a way and we just don't have the evidence one way or the other. we are dismissing it. we are saying the available evidence for and since we have virtually no causal impact on wealth w at all in our study. and study. insofar as i
you all talked about eitc, minimum wage, unionization baby bonds in a couple of other things. these are things that can directly focus on the those in poverty but at lease than what you've said and scanning through i see nothing about what we should do about essentially reducing this force where the wealthy is -- and it's trickling down. should the expand views to look at the flip side of this issue? >> i think again within the parameters of our charge, i mean you might be correct that...
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May 16, 2024
05/24
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we have dramatically reduced the number of eitc audits. we have made changes to our selection algorithm. we've done more outreach to impacted stakeholders. we are working with the census bureau and others to make sure we are setting up the right data infrastructure in order to better evaluate the racial disparity, potential racial disparity of any tax administration so that this does not happen again. the results, i committed to the chairman that i would be prepared by the fall of 2024 to start unpacking some of the results of what the steps are and i still think we will make that deadline. sen. menendez: i look forward to you sharing that with us, and i hope you will look at latinos. mr. werfel: absolutely. sen. menendez: fairness is an essential part of this process. chair wyden: mr. commissioner, you have been in that seat for almost two and a half hours. i'm going to liberate you very briefly. in just a couple minutes. in particular, we have dealt with an array of very substantive and important issues. we could debate further about dir
we have dramatically reduced the number of eitc audits. we have made changes to our selection algorithm. we've done more outreach to impacted stakeholders. we are working with the census bureau and others to make sure we are setting up the right data infrastructure in order to better evaluate the racial disparity, potential racial disparity of any tax administration so that this does not happen again. the results, i committed to the chairman that i would be prepared by the fall of 2024 to start...
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May 12, 2024
05/24
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is there fraud in the eitc? there absolutely is. why is there fraud there? because human beings are participated in it -- participating in it. and human beings want to try to pay as little as they can. me included. but some people cheat. and they claim -- you don't collect much from them because they don't have much. but that's why so much time was spent on it. because we want to see that little old lady who is driving the cadillac coming and doing the food stamps at the grocery store. so, mr. chairman, it concerns me that when people who are making a lot of money, and very frankly, i don't know the statistics on ms. delauro's corporations, but if 41 corporations are paying no taxes, my presumption is they're probably doing that illegally. and we make the rules. but we complain about it. but if we make the rules and they're following the ruse, they don't pay taxes, god bless them. they got smart accountants, smart lawyers, i hear that, my colleagues say that all the time. say, ok. did they go to jail? no. well, then they're obeying the law. our law. and if y
is there fraud in the eitc? there absolutely is. why is there fraud there? because human beings are participated in it -- participating in it. and human beings want to try to pay as little as they can. me included. but some people cheat. and they claim -- you don't collect much from them because they don't have much. but that's why so much time was spent on it. because we want to see that little old lady who is driving the cadillac coming and doing the food stamps at the grocery store. so, mr....
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May 10, 2024
05/24
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wewe had 79 taxpayers less you eligible for eitc that the claimant. we need to close n that gap anda working i underserved and distressed communities we can share more information about tax skanska and what to be on the lookout for and what our free options for your file. we want themha to have choice. we wanted to be educated to know, well, i can file for free with the irs direct or i can use commercial software. let me try both and see what works for me. the idea around direct file is really another option with the overall objective of serving people that can't afford an account and need more help. >> we require people to pay taxes of the fact we will provide something for them to do that only makes complete sense to me, and to that you talk about the money that doesn't get to low income families, 12 billion in tax credits are left on the table. is there afi way to auto file se of information with the system so that when people come if they do direct file, some of it could be included since you receive it electronically? >> there is a lot of study t
wewe had 79 taxpayers less you eligible for eitc that the claimant. we need to close n that gap anda working i underserved and distressed communities we can share more information about tax skanska and what to be on the lookout for and what our free options for your file. we want themha to have choice. we wanted to be educated to know, well, i can file for free with the irs direct or i can use commercial software. let me try both and see what works for me. the idea around direct file is really...
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May 3, 2024
05/24
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find there can of course you can click every dime of that money because it's not hard to audit and eitc recipient versus someone with 500 corporations and billions of dollars. thank you for your indulgence, tragic. >> i gave you an extra 53 seconds. remember that. >> i will remember that. >> helping you out. the gentlelady yields back. mr. murphy from north carolina you are reckless or five months. >> thank you, mr. chairman, and thank you, commissioner for coming today. i was using a two cd. i saw you went to duke and unc. >> i did. >> so do corey unc? >> duke. >> i got no more to say to you. [laughing] all right, all right. let's get down to -- questions, california and north carolina, excuse the new york have the most billionaires. you are saying its high rate of cheating. have you ever correlated any of them with daschle are the pain california taxes and new york taxis broke i don't have that analysis at my fingertips. we're focusing -- >> what i'm saying is we're talking about a lot of folks not paying the taxes. look, i'm 100% people need to pay the taxes, i don't care what income
find there can of course you can click every dime of that money because it's not hard to audit and eitc recipient versus someone with 500 corporations and billions of dollars. thank you for your indulgence, tragic. >> i gave you an extra 53 seconds. remember that. >> i will remember that. >> helping you out. the gentlelady yields back. mr. murphy from north carolina you are reckless or five months. >> thank you, mr. chairman, and thank you, commissioner for coming today....
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May 2, 2024
05/24
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. >> we had similar exchange last year with eitc and child tax credit we have not seen data that supports that. some men are able to reenter the workforce. we've not seen that data. discouraged work. >> right. >> we heard complaints amongst constituents that they don't get pell grants who don't work as much, set up poverty. do you ever hear complaints of people saying i'm middle class, my child has to take out the student loans. my sister is not working, her child gets free college. are you aware of that incentive in there? >> you brought up constituents. i've not heard that complaint about pell grants before. we have been committed to doubling the pell grant. >> it doesn't bother you that the pell grants are not eligible, getting more generous grants? >> i think we have a larger issue of college affordability we have to do something about. you're absolutely right. cost of debt, even people with pell grants have to take on debt. we have to find solutions. >> it's wonderful to see so many people helping out people. when i tour food banks in my district, all of the food is called healthy fo
. >> we had similar exchange last year with eitc and child tax credit we have not seen data that supports that. some men are able to reenter the workforce. we've not seen that data. discouraged work. >> right. >> we heard complaints amongst constituents that they don't get pell grants who don't work as much, set up poverty. do you ever hear complaints of people saying i'm middle class, my child has to take out the student loans. my sister is not working, her child gets free...