Laura Davison

This year should be a better experience for taxpayers, with the IRS receiving additional funding, adding 5,000 customer service representatives, and reducing a large backlog of tax returns.

The House voted to repeal billions of dollars of Internal Revenue Service funding that Democrats approved last year, an issue that is likely to crop up repeatedly this year.

Rep. Jason Smith will lead the powerful House Ways and Means Committee.

The earliest the information would be released is Dec. 27.

The Internal Revenue Service would be legally mandated to annually audit the president and publish the results under legislation passed by the House.

Dozens of audit triggers litter Donald Trump's tax returns, according to Congress's top nonpartisan tax lawyers.

The move caps a three-year legal saga initiated by Democrats to obtain and release the former president's closely held financial documents.

Republicans — who are expected to control the House as of January — want tax breaks for private equity, manufacturers and businesses. For their part, Democrats want to expand the child tax credit.

Estate tax collections in 2021 hit their highest levels since former President Donald Trump's tax cuts took hold, a stark trend reversal that experts attribute to one-off pandemic factors.

Grand tax cuts have long been a centerpiece of Republican economic orthodoxy, appealing to the well-to-do who want to keep more of their income and stock-market gains. There's one problem, economists say.