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The Inflation Reduction Act’s Impact on Business Valuation

A shortage of personnel at the IRS may affect how you handle audits.

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


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