IRS Announces New Compliance Initiatives to Collect More Corporate Tax Using Inflation Reduction Act Funds
By Kevin Spencer, Edward L. Froelich and Shawn O’Brien on Oct 24, 2023
Posted In IRS Audits, IRS Guidance
On October 20, 2023, the Internal Revenue Service (IRS) announced new initiatives “to ensure large corporations pay taxes owed.” These initiatives leverage the substantial additional congressional funding that was given to the IRS thanks to the Inflation Reduction Act of 2022 (IRA). (We previously reported on how IRS enforcement is impacted by IRA funding here.)...