The co-commissioners of the IRS’s Small Business/Self-Employed and Criminal Investigations Divisions announced yesterday that the agency will be hiring thousands of auditors by September 2021. The hiring is a result of the submitted budget increases from President Biden and the House Appropriations Committee giving the IRS $1.7 billion more for fiscal year 2022 than fiscal year 2021.
What does this mean for your business?
Take heed. Now is the time to make sure that you are prepared in the event that you receive a letter from the IRS letting you know that you have been selected for an audit. Don’t make the mistake of waiting until you receive the letter.
Butler Snow’s experienced tax attorneys are here to help.