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Robert Kovacev Quoted on Effect of New IRS Funds on Tax Enforcement in Bloomberg Tax

Subtitle
"Impact of New IRS Funds Won't Immediately Be Felt in Audits"

Bloomberg Tax

Robert Kovacev was quoted on the impact on Internal Revenue Service's (IRS) tax enforcement with its new $80 billion in multiyear funds from the Inflation Reduction Act (IRA). Of the roughly $80 billion, $45.6 billion is for enforcement. Kovacev said the IRS is "digging themselves out of a hole" because it had insufficient resources in enforcement for at least a decade. "Inevitably there's going to be some lag between when they get the money, when they spend the money, and when we will see an effect on the ground," he said.