Section 174 expensing, a return to EBITDA for section 163(j), an extension of 100% bonus depreciation and disaster relief paid for by ending Employee Retention Credits (ERC)
The Inflation Reduction Act of 2022 provides significant funding for the IRS over the next 10 years. The IRS is expected to use over half the funds for enforcement. Taxpayers can also expect to see an increase in taxpayer services.
