Democrats Seek Details on IRS Settlement and Fund
Senate Democrats have asked Treasury and IRS officials for information about a settlement that created a nearly $1.8 billion fund. The request follows a lawsuit filed by President Trump against the IRS.
680news.comSenate Banking Committee ranking member Elizabeth Warren and Senate Finance Committee ranking member Ron Wyden sent a letter late Thursday to Treasury Secretary Scott Bessent and IRS CEO Frank Bisignano. The letter requests information about a settlement between President Trump and the IRS that established a nearly $1.8 billion fund to compensate individuals who allege they were wrongly targeted under the prior administration.
The settlement resolved a $10 billion lawsuit filed by President Trump against the IRS. It includes an addendum that ends existing IRS audits of President Trump, his family, and their businesses. The fund will be administered by a five-person commission appointed by the attorney general, with President Trump holding removal authority over commission members.
In the letter, the senators expressed concern that the fund could be used to pay individuals prosecuted for entering or performing violent actions at the Capitol on Jan. 6, 2021. The senators also asked for a list of audits and enforcement actions that were dropped due to the agreement and called on the Treasury inspector general for tax administration to investigate the settlement.
Key Facts
Story Timeline
2 events- May 22, 2026
Democrats sent a letter to Treasury and IRS officials requesting information on the settlement.
1 sourceABC News - May 20, 2026
The Department of Justice posted an addendum to the settlement on its website.
1 sourceABC News
Potential Impact
- 01
The Treasury inspector general may open an investigation into the settlement.
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