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Law | Daily LifeNewsTax law amendments update

August 24, 20220

The IRS is expected to nearly double with 87,000 more agents being hired through the Inflation Reduction Act of 2022. The program will cover the latest developments and strategies that impact tax and retirement planning and savings for both individuals and businesses, as well as the impact of the Inflation Reduction Act.

 

The act also includes a wide range of tax law amendments that we will have to implement in a very short period of time. By IRS Commissioner Chuck Rettig

The largest increases, relative to previous IRS budget projections, come for business system modernization and enforcement.   (How to Think about IRS Tax Enforcement Provisions in the Inflation Reduction Act” 2022)

The Report (PDF)

The Letter (PDF) Letter to members of the Senate from Commissioner Rettig

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