We have been asked our opinion about the new IRS agents that will be hired because of the package just signed into law. A few things to note. Not all the funds are going for new agents (although a significant portion is). Most of the new agents will not be additional agents but replacements for those retiring and people moving careers and/or departments. In addition it will go for technology upgrades for equipment and systems that are decades out of date. These new agents will also replace the 13,000 agents that were lost during the Trump presidency due to their budget being cut. Our opinion is that these agents will in fact be concentrated on only the most wealthy tax payers. Not many know that over the last decade, audits have involved the most vulnerable tax payers (those receiving the earned Income Credit) because they were the proverbial low hanging fruit. This should shift the focus away from the low and middle class with more resources. We also believe that any significant enforcement will not be seen any time soon. We just don’t believe the IRS would have time for new enforcement when they are behind in processing 10’s of million of tax returns. We don’t believe you can audit tax returns when you haven’t processed them yet. Of course we don’t know what will happen yet but we will be monitoring the situation as things start taking shape. http://ow.ly/3vGb50Km2n8