National accounting firm Withum shares information to help you understand the potential impacts of the Inflation Reduction Act, which was signed into law on August 16, 2022. They note that the act, which includes $80 billion of increased funding for the Internal Revenue Service (IRS), will meaningfully increase IRS audit rates, but the impact won’t happen overnight.
Withum Article Explains the Inflation Reduction Act’s Impact on Tax Audits
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