TAX2306. IRS Practice Update

The Inflation Reduction Act (IRA) of 2022, enacted on August 16, 2022 provided for $80 billion toward boosting IRS staffing, in line with the administrations long-term goal of strengthening tax collection and enforcement on large corporations and high-income earners. Join this session to gain insights and earn more about how the IRS plans to develop and implement the hiring and enforcement initiatives provided for in the IRA.

Learning Objectives:

• Explain the objectives of the IRS Strategic Operating Plan and how the IRS plans to spend the $80 Billion provided for in the Inflation Reduction Act.
• Evaluate how the funding components could impact clients and practitioners