In case you aren’t looking to read further, the short answer is most likely. But what does that mean for you and your small business? For those looking to get a bit more information, here’s why. As many are aware, President Biden recently signed the Inflation Reduction Act into law. As part of the new law, $80 billion in funding is authorized for the IRS over the next ten years, with $45 billion of that earmarked for enforcement.
To put that into context, the next largest single line item was Operations support at $25.3 billion, followed by Business System Modernization at $4.75 billion and Taxpayer Services at $3.18 billion.
