Warren Says Top IRS Auditors Would Make Billionaire Tax Workable

The IRS has the expertise to enforce President Joe Biden’s proposal to tax the unrealized gains of mega-millionaires and billionaires, Senator Elizabeth Warren contended in face of criticism over the workability of a proposal she strongly supports.

Warren, a Massachusetts Democrat, said Thursday at a Senate Finance Committee hearing that the Internal Revenue Service has for more than a century audited the estate-tax returns for wealthy Americans who have died. That skill-set makes it possible for the agency to apply taxes on unrealized capital gains among the ultra-rich, she said.

Warren’s remarks address a common critique of plans to ...