IRS switched strategies for pursuing wealthy, but came up short accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
A turn for the worse in IRS treatment of the R&D credit accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
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In his April 28, 2021 address, President Biden asked Congress to provide $80 billion of extra funding for the Internal Revenue Service (“IRS”) over the next decade.
1 While the timing and amount of any additional funding are uncertain, there appears to be general agreement that increased funding of IRS enforcement efforts is critical to reverse the steady decline of audits, criminal investigations and prosecutions over the last decade.
2 The IRS is not waiting for additional funds to ramp up its fraud and criminal enforcement activities, however, having recently established new units focused on these efforts.
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BIDEN TOUTS RESTAURANT AID PROGRAM: President
Joe Biden visited a Mexican restaurant in Washington today that was a beneficiary of the pilot program for the industry’s $28.6 relief fund and announced that more than
186,000 restaurants, bars and other eligible businesses had submitted applications in the two days since the Small Business Administration had opened up the process.