Tax,
Government
Sep. 15, 2022
IRS audit worries grow
Tax advisors are not supposed to play audit lottery or to base their substantive tax advice on statistics that show that most tax returns will never be examined. In other words, tax advice is supposed to ignore the indisputable fact that most tax returns are not audited.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
The Inflation Reduction Act is doling out nearly $80 billion in funding to the IRS. There has been considerable worry about how that money will be spent. The Wall Street Journal suggested that the money would fuel efforts to put the IRS into "beast mode." There have been even more extreme reactions, particularly to IRS plans to hire up to 87,000 new agents. In all, the meant-to-be-inflation buster law will dole out about $80 billion to the IRS for increased enforceme...
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