IRS News

Expectations are high that the IRS will beef up tax enforcement with its new $80 billion in multiyear funds from the Inflation Reduction Act, but it will take some time for that to come to fruition.

Neither the IRS Office of Chief Counsel nor the U.S. Department of Justice’s Tax Division has presidentially appointed and Senate-confirmed leaders currently in charge, making it difficult for either to take on significant tax projects.

In its recently released Strategic Plan for Fiscal Years 2022-2026, the IRS described how it will leverage technology and data analytics as a key component for achieving its goals within four strategic areas

The Internal Revenue Service issued notice IR 2022-183, warning all business owners to be wary of third parties manipulating them into claiming the Employee Retention Credit (ERC) when they may not qualify.

In a decision that is being regarded as a major win for U.S. business owners, in the case of Suder v. IRS, the U.S. Tax Court has reaffirmed recent judicial precedent with respect to the R&D tax credit, reaffirming that businesses that are building on the work of others or performing applied research may be eligible to claim the incentive.