The North Bay Business Journal published an article on August 29, 2022, quoting Andre Shevchuck, Tax Partner at BPM. The Inflation Reduction Act of 2022 increases the IRS budget with much of the investment going toward the categories of enforcement and operations support, among others. Shevchuck speaks on the enhancements needed to the agency’s aging technology and implications of the historic funding. He comments, “We have a lot of hard work in front of us to deliver on the high expectation this historic funding will provide,” in response to reports of a huge backlog of returns.
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How North Bay employers could be impacted by Inflation Reduction Act