Impact of IRA Funding Reduction on IRS Operations Expected to be Limited in the Near Term
The recent reduction in funding allocated to the Internal Revenue Service (IRS) under the Inflation Reduction Act of 2022 is not anticipated to have significant immediate consequences for the agency’s plans, according to an IRS official. Although over $21 billion of the allocated funds was rescinded or repurposed, leaving approximately $60 billion remaining, the IRS …
