Will You Be Targeted By The Inflation Reduction Act This Year? What You Need To Understand.
On August 16, 2022, President Biden signed the Inflation Reduction Act into the law, giving the IRS an additional $80 billion for audits and enforcement. The President and other political leaders promised that the new funding would only be used to go after the super-wealthy. However, the President’s promise ignores one key fact: the IRS does not know who is, and who is not wealthy until after the audit.
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