Tomorrow's News Now: The Taxman Investigated

By The TIME Daily Team Monday, Sept. 22, 1997
  • Share
  • Read Later
Forget about Fred Thompson's pedestrian hearings. The real fireworks will start Tuesday, when the Senate Finance Committee turns its attention to the IRS. The probable highlight of this week: Cloaked in black hoods (no, really), IRS agents are expected to testify that the agency routinely abuses and mistreats taxpayers. Nearly 42 percent of the $13.2 billion in penalties that the IRS assessed against taxpayers last year was wiped off the books after corporations and individuals challenged the levies as excessive or unnecessary, leaving the revenue boys with some explaining to do.