June 17,2024

Wyden Statement on New IRS Effort to Address Tax Abuses by Large Partnerships

Washington, D.C. — Senate Finance Committee Chair Ron Wyden, D-Ore., today issued the following statement on the IRS’s announcement of a new enforcement effort focused on large partnerships that avoid paying what they owe with abusive transactions and highly complicated structures:

“This new effort by the IRS focused on large partnerships represents a major enforcement upgrade in one of the most challenging and complex areas of tax law. These are massive entities with extraordinarily complicated structures, and they are often expert at gaming the tax code to avoid paying a fair share. I’ve been urging stronger enforcement among large partnerships for years, and thanks to Democrats passing the Inflation Reduction Act, the IRS now has additional resources to put into this difficult work. I’m also continuing to develop my proposal to reform the rules on partnerships because today those rules allow the wealthiest individuals and most profitable corporations to decide when, and whether, to pay taxes at all. With this IRS enforcement effort underway, Americans need to remember that if Republicans control Congress next year, they will gut the funding behind this enforcement, and it will be a whole lot easier for large partnerships to get away with ripping off law-abiding taxpayers.”