The IRS is undergoing severe staffing and budget reductions, with potential layoffs of up to 50% of its workforce, shrinking its size substantially compared to previous years. Recent federal spending decisions have reclaimed significant IRS funding, suggesting a shift away from rigorous tax enforcement seen under the previous administration. For entrepreneurs, this could mean fewer threats of unwarranted audits, particularly due to changes in priorities that focus less on lower-income taxpayers and partnerships, easing some concerns about tax oversight moving forward.
"Widespread layoffs and drastic budget cuts are on the horizon for the IRS, potentially reducing its workforce by as much as 50%, impacting tax enforcement and audits."
"Entrepreneurs may not face the same risks of unwarranted audits now that the IRS's emphasis on increased tax enforcement under the previous administration appears to be waning."
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