Adrienne Straccione, CPA, Partner, at Wouch Maloney CPAs and Business Advisors, was quoted in The Philadelphia Inquirer published on August 17, 2022. The article titled “The Inflation Reduction Act just became law, and gives more money for IRS tax enforcement. Here’s how small businesses can prepare,” provides insight to business owners on steps to take to avoid triggering an audit after the President signed the Inflation Reduction Act on August 16, 2022. Included in the Act is $80 billion in additional funding that will go to the IRS to hire more agents to step up enforcement. While government officials insist big business will be targeted for enforcement, others believe small to mid-size business owners should also take steps to prepare for possible audits.
In the article, Adrienne provides details of some red flags business owners should avoid, and in turn, will reduce the chance of being audited.
To read a pdf of the article, click here.
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