The Inflation Reduction Act (IRA), which was enacted in 2022, included 38 provisions affecting the IRS. The agency estimated that these provisions required creating or revising 24 tax forms, 29 tax form instructions and three publications. In a recent report, the Treasury Inspector General for Tax Administration (TIGTA) assessed the IRS’s development of processes to monitor, measure and track implementation of the IRA’s tax-related provisions. “After enactment, the IRS immediately began the difficult and large-scale task of implementing IRA legislation,” TIGTA stated. This included creating the IRA Transformation and Implementation Program Office. Read TIGTA’s report: https://bit.ly/3wuwc4k
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