Video & Transcript Research : 'IRS'

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US
Transcript Highlights:
  • mind that Donald Trump and Elon Musk are intent on violating taxpayer privacy laws and weaponizing the IRS
  • They forced out the non-partisan officials in the only two Senate-confirmed positions at the IRS, Commissioner
  • That's despite the fact that he's already serving unofficially in a role that directly oversees the IRS
  • The Doge staffer who was given official access to sensitive personal information in IRS systems is a
  • I cannot support a nominee who's okay with Musk's takeover of the IRS, and I cannot support a nominee
Summary: The committee convened to discuss critical issues surrounding the nomination of Michael Falkender for the position of Deputy Secretary of the Treasury. This meeting included a series of remarks from committee members who expressed divergent views on Falkender's qualifications and the implications of his appointment. Senator Wyden voiced strong opposition, arguing that Falkender represents harmful policies expected to be perpetuated under the current administration, especially concerning taxpayer privacy and IRS tactics. Meanwhile, other members defended Falkender, noting his extensive experience, including a commitment to transparency in government operations if confirmed.
MN

Minnesota 2025-2026 Regular Session

House Taxes Committee 3/18/25

Taxes

Transcript Highlights:
  • responsibilities for example the IRS responsibilities for example the IRS estimates<00:34:07.200
  • in order to remain audits by the IRS in order to remain compliant<00:37:25.800> necessary<00:
  • The free filing, according to the IRS, the average taxpayer spends 13 hours.
  • According to the IRS, the average taxpayer spends 13 hours.
  • Right now, the federal government is considering a massive 18% reduction to the IRS workforce, which
Bills: HF2274, HF1932
MN

Minnesota 2025-2026 Regular Session

House Taxes Committee 5/6/25

Taxes

Transcript Highlights:
  • Chair Gomez added that the IRS piloted a direct file program that was actually really successful, but
  • There was a pilot at the IRS that was actually really successful, and it is unfortunate that the decision
US
Transcript Highlights:
  • to the IRS.
  • Now 7,000 IRS employees have already been fired.
  • IRS Supervisor Special Agent Gary Shapley and IRS...
  • I mean, these numbers come from IRS press releases.
  • You would agree that IRS has antiquated systems?
Summary: The meeting convened to consider the nomination of Mike Falkender for the position of Deputy Secretary of the Treasury. During the session, multiple members voiced concerns regarding current economic policies under the Trump administration, particularly around inflation, tariffs, and the impact on small businesses. Discussions frequently centered on the administration's approach to tariffs and taxation, and how these factors contribute to the rising cost of living and potential job losses. Additionally, the importance of bolstering government-to-government relationships with tribal nations was emphasized, highlighting the need for specialized offices focused on tribal affairs within the Treasury Department.
US

US Federal 2025-2026 Regular Session

US House Floor Proceedings (Monday, April 27, 2026)

US Federal House Floor Meeting

Transcript Highlights:
  • The IRS is no exception.
  • around for decades by requiring the IRS around for decades by requiring the IRS to<03:15:48.399>
  • , expedite the digital transition at IRS, expedite the digital transition at IRS, requiring<03:17
  • I reserve the balance of my time. systems in place at the IRS today were systems in place at the IRS
  • IRS. IRS.
CA
Transcript Highlights:
  • And format-wise, the IRS is very similar to us.
  • That’s a partnership with us and the IRS.
  • And so the Franchise Tax Board does have agreements with the IRS to receive information from the IRS
  • For the IRS as well.
  • It is an IRS program.
Summary: The Assembly Budget Subcommittee on Accountability and Transparency held a hearing focused on three issues: federal funding cuts and delays, possible state revenue impacts from reduced IRS enforcement, and the fiscal effects of AB 218 on local governments. The Franchise Tax Board described how state and federal tax systems are closely linked, how most returns are filed electronically through software, and how FTB relies on IRS information sharing for compliance, fraud prevention, offsets, and nonfiler work. Members raised concerns that federal staffing cuts at the IRS could weaken audits of large corporations and reduce California revenue, and asked about VITA and ITIN filers; FTB said it was not aware of VITA reductions, noted ITIN returns are processed the same as other returns, and said ITIN filing appeared slightly down this year. The Department of Finance said it is monitoring federal developments, summarized the continuing resolution and reconciliation process, and noted that California lost nearly $940 million in earmarked federal projects under the CR, while major federal budget decisions remain uncertain until the President’s budget and later congressional action. The University of California reported substantial federal pressure on research, student aid, and health care. UC said hundreds of millions of dollars in federal awards have already been canceled, with additional threats to NIH and DOE facilities-and-administration rates, graduate fellowships, student loan repayment plans, international student visas, Pell Grants, and Medicaid/Medi-Cal funding. Committee members pressed UC on the effects of DEIA-related federal restrictions, the loss of clinical trials and research staff, and the impact on low-income students and patients. UC said it is pursuing litigation with the Attorney General and other institutions, but emphasized that court action is only a temporary solution and that sustained state and private support may be needed. The second panel addressed the fiscal consequences of AB 218, which extended the statute of limitations for childhood sexual abuse claims against public agencies. FCMAT presented a report with 22 recommendations, including better statewide data collection, financing mechanisms, a possible victims compensation fund, and prevention measures. Los Angeles County described a tentative $4 billion settlement tied to AB 218 claims, saying it will require reserves, borrowing, and long-term annual payments through 2050, while also forcing curtailments and cuts to vacant positions to preserve services. Members discussed insurance pools, retroactive premiums, unidentified future claims, and the need for a compensation fund or other financing tools. No formal votes were taken; the hearing concluded with public comment, including testimony from local health officials about nearly $400 million in terminated federal public health grants and the resulting layoffs and service impacts.
CA
Transcript Highlights:
  • That's a partnership with us in the IRS.
  • And so the franchise tax board does have agreements with the IRS to receive information from the IRS
  • Some of those same type of dependencies exist for the IRS as well.
  • IRS to do its job.
  • It is an IRS program. We do have a team of people.
Keywords: 988, house, all
AR

Arkansas 2026 Regular Session

LEGISLATIVE JOINT AUDITING-COUNTIES AND MUNICIPALITIES Mar 12th, 2026

LEGISLATIVE JOINT AUDITING-COUNTIES AND MUNICIPALITIES

Transcript Highlights:
  • Payroll taxes were not always paid to the IRS by the due date.
  • This results in penalties and interest of over $500 to the IRS.
  • Payroll taxes were not always paid to the IRS by the due date.
  • This results in penalties and interest of over $500 to the IRS.
  • Our IRS agents suggested we make an offer and compromise.
Summary: The committee approved the February 12 minutes and received updates on delinquent municipal water and sewer reports for 2022 and 2023, noting continued progress toward compliance and reinstatement of turnback funds for several cities. It also deferred several matters to the June 4 meeting, including Fargo’s municipal accounting noncompliance report, Jericho’s street-fund misuse issue, Biggers and Holly Grove deferred reports, and a group of private water and sewer reports lacking proper responses. Members then heard and filed a detailed report on the City of Strong, which involved repeat findings on undeposited receipts, improper use of solid waste funds, unsupported spending, late payroll tax payments, accounting control problems, and fund balance issues. Mayor Darrell Howell described corrective steps, including new internal controls, outside CPA assistance, repayment of misapplied funds, budget amendments, and efforts to address the findings; the committee commended the city’s efforts and filed the report. The committee also filed reports on Thornton Waterworks, Calhoun County, Salem, Briarcliffe, Compton Water Association, Montgomery County Regional Public Water Authority, Camden, Johnson County, and Sparkman, while deferring several private water reports and other unresolved items. A major portion of the meeting focused on the Pulaski County Regional Solid Waste Management District and other regional solid waste districts. The audit found issues in Pulaski County involving unapproved payroll items, missing credit card documentation, unapproved contracts, vehicle and cell phone documentation problems, lack of competitive bidding, and weak internal controls; members questioned the district’s practices and deferred the report to June while requesting district representatives appear. The committee also reviewed a statewide report on six regional solid waste management districts, with findings in Pulaski, Faulkner, and Benton counties and no findings in three others; that report was likewise deferred for Pulaski County questions. The meeting ended after a lengthy discussion with Cross County Rural Water System about overdue audit posting, water quality problems, grant-funded improvements, board notice practices, and the broader challenges facing rural water systems, after which the committee filed the report and adjourned.
NH

New Hampshire 2026 Regular Session

House Labor, Industrial and Rehabilitative Services (05/05/2026)

Labor, Industrial and Rehabilitative Services

Transcript Highlights:
  • talk about as it relates to the IRS. talk about as it relates to the IRS.
  • law. >> By law and IRS law.
  • law. >> By law and IRS law.
  • law. >> By law and IRS law.
  • law. >> By law and IRS law.
Keywords: 1189, house, all
AR

Arkansas 2026 1st Special Session

LEGISLATIVE JOINT AUDITING-COUNTIES AND MUNICIPALITIES Jun 4th, 2026

LEGISLATIVE JOINT AUDITING-COUNTIES AND MUNICIPALITIES

Transcript Highlights:
  • Senator Hammer, tell us about your dealings with the IRS. You still owe the IRS, is that correct?
  • We still owe the IRS, and I've been trying to contact the IRS.
  • I can't stay on the phone with the IRS.
  • I can't stay on the phone with the IRS.
  • Additionally, IRS Form 1099 was not issued or reported to the IRS for these funds.
Summary: The committee approved the prior minutes and then received a series of audit and compliance updates. Staff reported on delinquent private water and sewer reports, delinquent 2013-2023 water reports, and several municipal accounting code noncompliance cases. Denning and Gum Springs were recommended to be removed from the 60-day clock after staff visits showed improved records, while Fargo, Lead Hill, Almy, Jericho, Haynes, Biggers, Gilmore, and Holly Grove were discussed for repeat findings involving missing audits, poor bookkeeping, unpaid or misapplied street funds, deficit balances, and other accounting deficiencies. Several of these entities were given additional time or had reports filed without objection, while others were deferred for later review. Fargo’s mayor said the town had been understaffed and was working to improve its accounting systems; the committee voted to defer the matter to the August meeting. Lead Hill’s mayor described efforts to complete overdue water audits and improve office procedures, and the committee also postponed action for 60 days. Almy’s mayor and recorder-treasurer were present, and the committee placed the town on the 60-day clock for repeat accounting issues. Biggers and Gilmore both acknowledged long-running audit problems and said they were working with auditors and the IRS; their reports were filed. Holly Grove’s treasurer said she had only recently taken the position, and that report was filed as well. The committee spent considerable time on the street-fund misuse cases for Jericho and Haynes. Jericho was found to have exceeded the statutory threshold tied to fines and costs, with staff noting the town had since become current on its repayment plan; the committee deferred the report to September. Haynes was also behind on its repayment plan for street funds, with staff saying the town had recently made up the shortfall and was current as of the meeting, but the committee still deferred the report to September. Members and staff also discussed how the speed-trap law is applied, whether certain fines and costs count toward the threshold, and the role of the prosecuting attorney in deciding whether to take further action. The committee then reviewed a special report on the Pulaski County Regional Solid Waste Management District, which had six findings involving board approval of payroll and contracts, credit card documentation, vehicle and cell phone use, competitive bidding, electronic funds controls, and unusually high advertising spending. District Director Craig Douglas said the board had delegated some authority, that receipts were missing during a temporary staffing gap, and that advertising was needed to educate the public; he also defended the sale of trailers and other equipment as a way to exit the trailer business. Several members questioned the explanations and the low resale value of equipment, but the committee ultimately deferred the report to September. The meeting also included a recognition of accounting students interning with audit staff and a final set of actions on deferred water and sewer reports: 11 were filed, seven were deferred for lack of proper responses, and a private report on Shannon Hills Water, Sewer, and Fire Department was noted as involving misappropriation by an office manager and inadequate internal controls.
MS

Mississippi 2026 Regular Session

Appropriations - Room 216, 22 January, 2026; 8:00 AM

Appropriations

Transcript Highlights:
  • proceed with the IRS or the state? proceed with the IRS or the state?
  • > the<00:21:20.240> IRS.
  • Um we're the client before the IRS.
  • against a CPA to the IRS. against a CPA to the IRS.
  • It's and the file up is with the IRS.
Summary: The hearing began with the State Board of Architecture’s budget presentation. The executive director described the board’s mission to regulate architecture, landscape architecture, and certified interior design to protect public health and safety. He highlighted the board’s consolidated structure, license totals, high reciprocity rate, recent rule changes to reduce barriers to practice, and a proposed FY 2027 budget of $368,123, which included a 5% staff salary increase and higher operating costs. He also noted a newly identified need to modernize the licensing system, estimated at at least $25,000, and asked that the board not be reduced below the requested level. A board member also praised the small staff’s responsiveness and effectiveness. The State Board of Public Accountancy then presented its budget and policy requests. The executive director said the board regulates CPAs and CPA firms, oversees the CPA exam process, and has about 3,600 active individual licensees and 800 firms. The board requested only a 3% compensation increase for staff, plus a special request to allow an audit supervisor to repay the cost of a Becker review course through payroll deduction as part of succession planning. She also described a board-approved waiver program that began January 1, eliminating application fees for CPA exam candidates and retakes; 42 candidates had used the waiver in the first two weeks. In response to questions, she said the board does not assist CPAs with IRS disputes, but it does investigate complaints from the IRS, SEC, PCAOB, or others. Finally, a representative presented for the Board of Licensed Professional Counselors. She explained that the board regulates licensed counselors and psychotherapy providers, meets frequently, and has two staff members. The board’s main request was for additional investigative capacity: a full-time investigator and related funding, because complaints are currently handled by part-time investigators, contractors, and sometimes board members, which can require recusals from hearings. She said the state auditor had recently flagged complaint backlogs at regulatory agencies, supporting the request. The board also sought funding for a contractual administrative position, salary progressions, and a one-time technology increase to modify its new licensing system for the counseling compact and better search functions. Members questioned the board about its large cash balance, which was reported at about $860,000, and whether it should provide fee relief or other benefits to members; the presenter said the board would look into that and noted that revenues had increased significantly in recent years, partly due to out-of-state and telehealth-related licensing demand.
HI

Hawaii 2026 Regular Session

LBT Public Hearing 03-16-2026

Labor and Technology

Transcript Highlights:
  • Right, because the IRS sets um benefit.
  • The IRS does not permit that as part of the rules.
  • Is IRS updating their maximum and we need to be working on that?
  • <00:30:18.680> um or can we just go with the IRS um or can we just go with the IRS um maximum
  • So, there's no—there's nothing in IRS that allows you to do that, to set it aside.
Keywords: 912, senate, all
Summary: The Senate Committee on Labor and Technology heard testimony on several measures relating to public employment, the Hawaii Employer-Union Health Benefits Trust Fund (EUTF), retirement benefits, and cafeteria plans. HB 2472 and HB 2276, both concerning EUTF staff and investment office staff salaries, drew support from the trust fund and labor groups, and no opposition was heard in person. HB 2272 and HB 2273, emergency appropriations for public employment cost items, were supported by the administration and labor representatives; members briefly clarified which bargaining units were covered. A longer discussion centered on HB 1664, which would address a dispute mechanism for EUTF-related negotiations. HGEA said the current process lacks a dispute resolution path and that the bill would allow interest arbitration when the state and union disagree. The Department of Human Resources Development and the Budget and Finance director raised concerns about consistency across bargaining units and the role of an arbitrator unfamiliar with the complexities of the system. Senator Moriwaki questioned whether another dispute forum might be more appropriate, but no alternative resolution was settled. The committee also heard HB 1655, which would make retirement benefits negotiable, and HB 1658, concerning collective bargaining repricing. ERS opposed HB 1655, saying it could create administrative and tax problems if retirement benefits were negotiated separately across many bargaining units, while UPW, HGEA, HSTA, and UPA supported it as a bargaining issue. On HB 1658, DHRD explained that repricing is an internal classification tool meant to preserve equal pay for equal work, not to address market pay, and said a single arbitrator or the Merit Appeals Board could handle disputes; HGEA preferred a neutral arbitrator and opposed the Merit Appeals Board as too employer-controlled. The final measure, HB 1661 on cafeteria plans, was supported by UPW and HGEA. DHRD said it planned to raise the maximum contribution through rulemaking but needed to manage plan solvency and timing because IRS limits change on a calendar-year basis while the state plan runs on a fiscal year. The committee then moved into decision-making and adopted recommendations to pass HB 2472 and HB 2276 as amended/unamended after a brief correction to the vote language.
MN

Minnesota 2025-2026 Regular Session

House Taxes Committee 3/12/26

Taxes

Transcript Highlights:
  • Um, and the more than 25% at the IRS.
  • Um the IRS actually all over them.
  • Um, if people will recall, uh, last year Doge decimated the IRS staff and a third of IRS auditors were
  • Um, if people will recall, uh, last year Doge decimated the IRS staff and a third of IRS auditors were
  • Um, if people will recall, uh, last year Doge decimated the IRS staff and a third of IRS auditors were
US

US Federal 2025-2026 Regular Session

US House Floor Proceedings (Tuesday, May 19, 2026)

US Federal House Floor Meeting

Transcript Highlights:
  • American taxpayers to challenge the IRS American taxpayers to challenge the IRS in<03:27:11.359> court
  • The IRS then proceeded to levy account.
  • while the case was pending, the IRS while the case was pending, the IRS offset<03:29:54.399>
  • <03:34:44.080> or should be at the whim of the IRS or should be at the whim of the IRS or
  • Prior fairness to disputes with the IRS.
AR

Arkansas 2026 Regular Session

LEGISLATIVE JOINT AUDITING-COUNTIES AND MUNICIPALITIES Jun 4th, 2026

LEGISLATIVE JOINT AUDITING-COUNTIES AND MUNICIPALITIES

Transcript Highlights:
  • Tell us about your dealings with the IRS. You still owe the IRS? Is that correct?
  • We still owe the IRS. And I've been trying to contact the IRS.
  • During the day I work, I can't sit on the phone with the IRS.
  • Additionally, IRS Form 1099 was not issued or reported to the IRS for these funds.
  • But have you paid anything back on the IRS debt?
Summary: The committee approved the prior meeting minutes and then received updates on delinquent water and sewer reports, including seven new reinstatements and a reduction to four remaining delinquent filers. Staff also reported on municipal accounting code noncompliance, removing Denning and Gum Springs from the 60-day clock after improved records were verified, and presenting repeat findings for Fargo, Lead Hill, Alma, Jericho, and Haynes. Members discussed repeated audit problems, the length of time some issues had persisted, and whether towns should be given additional time or face stronger action; motions were made and adopted to place some entities on a 60-day clock or defer action to later meetings. For Fargo and Alma, staff described extensive repeat accounting deficiencies, including missing budgets, bank reconciliations, financial statements, receipts, journals, and supporting documentation. Fargo’s mayor said the town had been understaffed and was beginning to improve its office systems; the committee voted to defer the matter for 60 days and file the report. Alma’s officials said they were trying to correct water audit and accounting issues, and the committee likewise deferred the matter to the August meeting while warning that water-audit delays could jeopardize turnback funds. The committee then reviewed misuse-of-street-funds findings for Jericho and Haynes. Jericho’s police chief and officials explained that traffic fines, drug-related arrests, and other citations had pushed the town over the statutory threshold, while staff clarified that the speed-trap calculation excludes certain add-on fines and is referred to the prosecuting attorney for any action. Haynes officials said repayment problems stemmed from lost revenue and staffing changes, including the loss of the police department, but staff reported the town remained behind on its repayment plan and also owed the IRS. The committee voted to defer the Haynes matter to September and to defer Jericho as well, with members emphasizing the need for consistency and possible broader legislative review of small-town viability. A special report on the Pulaski County Regional Solid Waste Management District drew substantial discussion. Staff cited findings involving board approval of payroll and contracts, credit card documentation, car allowances and personal vehicle use, competitive bidding, and unusually high advertising spending, as well as the sale of trailers and other equipment at low prices. The district director said the board had delegated authority for many expenditures, that personal use was reported for tax purposes, and that advertising was necessary to educate the public about recycling. Members questioned the procurement and disposal decisions and the size of the advertising budget; after discussion, the committee deferred the report to September and asked the director to return. The meeting also included brief deferred reports on Biggers, Gilmore, and Holly Grove, which were filed after local officials described ongoing efforts to resolve long-standing audit and tax issues.
MA

Massachusetts 2025-2026 Regular Session

Joint Committee on Revenue Jun 21st, 2026 at 10:00 am

Joint Committee on Revenue

Transcript Highlights:
  • Part of my job is to represent them in front of the IRS.
  • The IRS, as you may know, has an offer and compromise program that is very successful.
  • The IRS calls it an offer in compromise.
  • I would like it to be five years, just like the IRS.
  • When it comes to the IRS, you have the opportunity to cure things.
Keywords: 995, all
Summary: The Joint Committee on Revenue held a hybrid hearing on several property and local tax bills. The main focus was H.56, the Municipal Empowerment Act, which the Healey-Driscoll Administration, the Massachusetts Municipal Association, MAPC, and Salem Mayor Dominick Pangallo supported as a package of local options and administrative reforms. Supporters said municipalities need more tools to relieve pressure on property taxes and fund services, citing proposed increases to local meals and lodging taxes, a new local vehicle excise surcharge, senior property tax relief, one-year override flexibility for emergencies, and central valuation of telecom and utility property by DOR. The administration said the bill was based on municipal listening sessions and was intended to give cities and towns optional, not mandatory, revenue tools. Opponents, including the National Federation of Independent Businesses, argued the tax increases would hurt restaurants, hotels, tourism, and small businesses and add to affordability concerns. The committee also heard testimony on H.3211, dealing with deeds excise receipts, from Norfolk County Commissioner Richard Staidi. He said Norfolk County is financially stable but needs additional revenue for major capital needs at its agricultural school, especially a new cafeteria and other aging facilities, and also to support county programs such as veteran transportation services. On S.2020, a bill to allow settlements of tax liability, Greater Boston Legal Services, the Asian American Civic Association, and several individual taxpayers urged creation of a more workable offer-in-compromise process at DOR. They said the current system is too subjective, requires an unaffordable $5,000 threshold, lacks clear standards and appeal rights, and leaves low-income taxpayers stuck with unmanageable debt, license suspensions, or business closures. Supporters said the bill would give both taxpayers and DOR a practical way to resolve liabilities and bring people back into compliance. The committee also took testimony on S.1966, which would require nonprofits selling property to disclose any back-tax obligations to buyers. Senator Peter Durant said the bill was prompted by a personal experience in which a tax bill arrived after a nonprofit property purchase was already completed, and he argued the disclosure would prevent buyers from being surprised by retroactive tax liability. No votes were taken during the hearing, and the chair closed the session after hearing from all scheduled witnesses.
MS

Mississippi 2026 Regular Session

Finance - Room 216, 2 February, 2026; 3:00 PM

Finance

Transcript Highlights:
  • The purpose of a set out is IRS requires a bona fide break in service.
  • Uh, and therefore the IRS on that money.
  • That would violate the bona fide break in service rule from the IRS.
  • That would violate the bona fide break-in-service rule from the IRS.
  • IRS guidelines as it relates to IRS guidelines as it relates to retirement<00:13:39.440> plans.
Summary: The committee first heard a bill concerning tax increment financing (TIFs). The sponsor explained that the measure would not change the existing financing structure, but would add an optional arrangement cities could negotiate with developers: a revenue bond guaranteed by taxes generated from the development. The goal was to let developers guarantee the bond and access funds sooner on the front end of a project rather than waiting to see whether tax revenues meet projections. After no questions, the committee adopted a motion that the title was sufficient and reported the bill out do pass as a committee substitute. The next bill, Senate Bill 2873, came from the Department of Revenue and dealt with enforcement of the state’s vape registry law. The sponsor said the bill fills a gap left by prior legislation by creating a statutory forfeiture process for seized products valued at $20,000 or less, including notice, a right to contest, and rules for disposition of forfeited property. The committee then moved the bill title sufficient and do pass, and it was reported out. Senate Bill 2894 addressed local improvement projects funded in 2021 through 2024 that had not been executed or had unspent money remaining. The bill would require return of certain funds after a memorandum of understanding was not signed or after three years with unspent balances, require remittance of unspent interest, allow withholding of some city diversion or state aid road funds for noncompliance, and require periodic status reports to the Legislative Budget Office. The sponsor also offered an amendment giving entities 60 days from the bill’s effective date to request a one-time six-month extension; the amendment and the bill both received favorable votes and were reported out. Senate Bill 2910 would require employers in the PERS system to settle the books if a unit of government or other employer terminates participation. Senate Bill 2911 proposed a new return-to-work option for PERS retirees, shortening the separation period from 90 days to 30 days and allowing certain retirees to return to public employment at up to 80% of the stated salary, with employer-paid retirement contributions and possible health insurance support. The sponsor said the bill would exclude elected officials, K-12 superintendents, and IHL/community college administrators, and he discussed the bill’s expected effect on PERS funding with questions from members about actuarial impact and whether the proposal would affect existing retirement rules. Both bills were discussed but the transcript excerpt does not show final committee action on Senate Bill 2911.
NM

New Mexico 2025 Regular Session

IC - Federal Funding Stabilization Subcommittee Jul 31st, 2025

Federal Funding Stabilization Subcommittee

Transcript Highlights:
  • We and all other state revenue departments are still making our way through it, waiting for IRS guidance
  • Or does it need to go to the IRS?
  • Next thing you know, somebody's asking questions from the IRS, and you're trying to explain it.
  • Explain why we have IRS audits. Madam Chair, members of the committee, my name is Dee Wald.
  • The first thing I'm going to say is the IRS taxes everything.