On Aug. 16, 2022 President Biden signed into law the Inflation Reduction Act (the Act).1 This law gives the Internal Revenue Service an additional $80 billion dollars and 87,000 employees over the next 10 years. Some of these goals are reflected in the IRS Strategic Plan for fiscal years (FY) 2022-2026 (Strategic Plan), which provides a roadmap to guide IRS operations. Here’s some background on the Strategic Plan, an analysis of what the Treasury department and Congressional
The Inflation Reduction Act’s Impact on Business Valuation
A shortage of personnel at the IRS may affect how you handle audits.