What to know about Billy Long, the ex-congressman and auctioneer Trump wants to head the IRS
President-elect Donald Trump on Wednesday explain He wants Billy Long, a Republican from Missouri, a former auctioneer and former congressman, to run the IRS. As a legislator, Long co-sponsor legislation Its purpose is to repeal most of the tax code.
In making the announcement, Trump praised Long for “having 32 years of experience in real estate running his own business and being one of the premier auctioneers in the United States.” He also noted that Long has served as a business and tax adviser since leaving Congress in 2023.
While Trump did not mention current IRS Commissioner Danny Werfel in his statement, the decision suggests the president-elect may replace him with Long once he takes office in January. economic think tank told CBS Financial Watch.
The appointment of Long as the next IRS director has drawn support from both conservatives and criticism from the left, with Democratic Rep. Don Beyer of Virginia, who serves on the House Ways and Means Tax Subcommittee, calling it a “A terrible mistake,” while the state of Idaho said it was a “terrible mistake.” Republican Senator Mike Crapo issued a statement saying he looked forward to hearing Long’s thoughts on the tax agency. fiscally conservative National Taxpayers Alliance Foundation commend Trump’s pick, saying Long could help reform the IRS.
Experts note that Long has most recently served as a tax adviser to businesses seeking to adopt controversial tax credits, but unlike previous IRS commissioners, his background is largely outside the tax industry.
“This guy is an auctioneer — that’s his specialty,” Owens noted. “This is an extremely unserious choice.”
Wayfair was appointed by President Biden and will take office in 2023. His term will expire in 2027. Typically, presidents would allow IRS commissioners to serve out their terms, as Biden allowed former Trump IRS appointee Charles Rettig, before appointing Wayfel to the role
If the Senate confirms his appointment to the IRS, Long will oversee an agency with 85,000 employees and an annual budget of more than $12 billion.
A spokesman for the Trump campaign declined to comment.
Here’s what to know about Long and the IRS.
Who is Billy Long?
Long attended the University of Missouri but did not graduate, describing himself in a report website Recognizing him as a “fourth generation Southwest Missourian” running for Congress. He touted his skills as an auctioneer, noting that he had been named “Best Auctioneer in the Ozarks” seven years in a row.
Long also worked in real estate and talk radio, hosting a show on Missouri AM radio.
he blinds Before he was sworn into Congress in 2011, he worked at Billy Long Auctions, local media reported.
What professional experience does Long have in tax?
As a congressman, Long co-sponsored a number of tax-related bills, including multiple efforts Abolition of inheritance tax and a measure called the Tax Code Termination Act.
The legislation would repeal much of the current tax code and replace it with what the bill calls a “simple and fair system” that would impose “low taxes on all Americans.” This single tax is considered regressive Many experts believe that low- and middle-income taxpayers will end up paying a larger share of their income than wealthier Americans.
“As a business owner, Billy knows firsthand how government regulation and heavy taxes impact the small businesses that are the engine of our country’s economy,” his campaign website states.
While Long is not an accountant or CPA, he has worked in tax consulting since leaving Congress. For example, in a 2023 podcast, he touted His job is to help businesses take advantage of the IRS’s Employee Retention Tax Credit marked Because of its high fraud rate.
In the podcast, Long also said that when he was a member of Congress, he helped make it easier for businesses to apply for the ERTC, noting that the credit was difficult to qualify for during its first iteration.
“We went from having to say that COVID-19 has definitely had an adverse impact on your business to taking that away and you don’t have to prove that you experienced any recession,” he said. Wonderful two years of rehab.”
IRS explain The ERTC targets employers who paid workers between March 12, 2020 and January 1, 2022, who were either suspended by government orders during the pandemic or who experienced “loss of wages during the 2020 or three preceding calendar periods.” Required decline in total revenue” for several quarters of 2021. “The credit also applies to startups founded in late 2021 with less than $1 million in revenue.
How does Long’s experience compare to previous IRS commissioners?
Long’s lack of tax industry experience sets him apart from other recent IRS commissioners.
Current IRS Commissioner Wayfair holds an undergraduate degree from Cornell University, a master’s degree in public policy from Duke University, and a law degree from the University of North Carolina. He has also held a number of government positions involving operations and the IRS, including serving as acting IRS commissioner from May to December 2013. according to His biography.
Wofel’s predecessor, Charles Rettig, who was appointed by President-elect Trump, also holds multiple degrees, including a master’s degree in taxation. Prior to joining the IRS, Rettig served as a tax attorney for more than thirty years and served as chairman of the IRS Advisory Committee.
What’s happening with the IRS now?
Under Wayfair’s leadership, the IRS Expand audit Wealthy taxpayers and large corporations recovered billions of dollars in unpaid taxes, an effort funded by the Inflation Reduction Act.
The tax agency is also reducing the time it takes for consumers to contact an IRS employee, while also rolling out Free tax filing system Called a direct file.
Some Republican lawmakers oppose expanding IRS funding, claim The agency will use the money to hire thousands of new agents to bolster audits of middle-class taxpayers.
The Treasury Department has said the funding could help the IRS add nearly 87,000 full-time employees over 10 years, but the agency has not specified whether those new hires will be auditors, customer service workers or other types of employees. The number also represents the total number of employees that could be hired and does not account for the impact of the number of IRS employees expected to retire or leave the department in the next few years.
Some Democratic lawmakers worry that appointing Long could undermine the progress the IRS has made under Wayfair.
Rep. Beyer said in a statement that Wayfair “has done an outstanding job rebuilding the IRS, improving customer service, and increasing enforcement against wealthy tax evaders.” “Removing him would make clear Trump’s intent to make the agency less responsive to the American people while giving wealthy tax evaders a green light to avoid their fair share of the tax burden.”
Still, Republican lawmakers have expressed support for the option, such as Senator Crapo, who highlighted “privacy and security” concerns and “inefficient use of resources” at the IRS. “I look forward to learning more about Mr. Long’s vision for the agency,” he added.
