With the recent release of its updated Strategic Operating Plan (SOP) and annual update supplement, IRS has outlined how it is ramping up its enforcement efforts. The updated SOP and annual update supplement are a reminder that taxpayers must be more vigilant and prepared than ever before for a potential audit. Despite some funding claw-backs, recent budget expansions, notably from the Inflation Reduction Act (the Act), have enabled the agency to increase its scrutiny on certain targeted taxpayer groups. While it is yet to be seen how the recent election results will impact IRS funding, it remains critical that taxpayers be prepared in the event of an audit.

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