How the IRS's New Strategic Operating Plan Will Affect Tax Professionals and Their Clients (Completed)

The Inflation Reduction Act increased the IRS budget by roughly $80 billion over 10 years. But what exactly will this look like? Rumors abound in the media about 27,000 new auditors coming for taxpayers' assets, but the reality is much different. This program will cover the impact of the COVID-19 pandemic on the IRS, the current status of enforcement, and what practitioners and their clients can expect to see in the next two years from the IRS. We will cover the impact of the new hiring and systems on IRS exam selection and coverage and enforcement with tax lien and tax levy automation. The program will also review the changes to the collection alternatives for taxpayers to resolve their tax issues, including Offers-in-Compromise, Installment Agreements and Uncollectible status.

Topics Covered

• IRS Staffing
• IRS enforcement for non-filers
• IRS enforcement for taxpayers with balances due
• Increased use of technology for taxpayers to interact with the IRS

Learning Objectives

• Understand the impact of the new funding on IRS operations
• Explain the IRS enforcement priorities
• Describe the improvements made for taxpayers to interact with the IRS

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None