No, the IRS isn’t going away. In fact, concerns about audits are ticking up. As small businesses prepare for tax season, there are still plenty of benefits…
inflation reduction act
For the first time Congress has provided long-term funding to rebuild the IRS after years of decline.
To ensure success, the Biden administration needs to promptly nominate and the Congress needs to swiftly consider and confirm a qualified Commissioner.
The Internal Revenue Service finds itself flush with money, an unfamiliar position. Persistent operational problems at the agency and controversial enforcement provisions in the narrowly passed Inflation Reduction Act place the IRS under the microscope and in the middle of America’s rough-and-tumble politics.
The Inflation Reduction Act set aside $79 billion to beef up the IRS, leading to concerns about the impact of increased audits in many corners.