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Companies that benefit from a doubling of IRS Agents
Posted on 8/9/22 at 12:36 pm
Posted on 8/9/22 at 12:36 pm
The Inflation Reduction Act will add 87,000 IRS agents. I think this means a far more active IRS, especially with respect to audits. To put it in perspective, the IRS only had 74,454 agents in 2019. It currently only has 93,654 total employees.
Are there any companies that stand to benefit from this?
I have a couple possibles, but don't want to bias the conversation.
Are there any companies that stand to benefit from this?
I have a couple possibles, but don't want to bias the conversation.
9
Posted on 8/9/22 at 12:39 pm to GG_OZ_WM
Federal government
Tax attorney
Bankruptcy attorney
Butt lube manufacturers
Tax attorney
Bankruptcy attorney
Butt lube manufacturers
Posted on 8/9/22 at 12:51 pm to GG_OZ_WM
Robert Half?
Posted on 8/9/22 at 12:57 pm to GG_OZ_WM
Briefcase making companies.
Posted on 8/9/22 at 12:58 pm to OysterPoBoy
ammunition manufacturers.
Posted on 8/9/22 at 1:52 pm to Wraytex
well played wraytex. POWW to the moon.This post was edited on 8/9/22 at 1:53 pm
Posted on 8/9/22 at 2:17 pm to GG_OZ_WM
I wonder how much this is going to cost people in terms of tax accountants?
This post was edited on 8/9/22 at 2:35 pm
Posted on 8/9/22 at 2:31 pm to GG_OZ_WM
We’re wondering where theyre going to find 87,000 people capable of doing the job. You can’t find anybody in Accounting right now and the IRS job from my experience has always been lower on the totem pole than working for a firm.
This post was edited on 8/9/22 at 2:32 pm
Posted on 8/9/22 at 2:33 pm to GG_OZ_WM
Big 4 tax practices
Posted on 8/9/22 at 2:35 pm to Weagle25
Hopefully a lot of these jobs are call center and processing center type deals - the IRS needs a ton of those positions. It’s absolute BS that grandma gets a cryptic notice and then waits on hold for hours on end to ‘resolve’ something that’s probably a nonissue
Posted on 8/9/22 at 2:56 pm to Cocotheape
quote:
Hopefully a lot of these jobs are call center and processing center type deals - the IRS needs a ton of those position
There will be none of that.... 87,000 brownshirts to audit anyone who is registered Republican or has donated to a Republican in the past.
Posted on 8/9/22 at 3:47 pm to Cocotheape
quote:
Hopefully a lot of these jobs are call center and processing center type deals - the IRS needs a ton of those positions.
13/14th of them are auditors. Nobody is going to answer the phone.
Posted on 8/9/22 at 5:28 pm to armsdealer
Interesting thread.
To really find those that benefit I think you'd have to think of the opposite first, who will be most affected by this?
Then, look at their competitors.
So, any sort of cash heavy business that actually reports their income that would pass an audit.
Not really any sort of industry specific, but I'd think this would hit your small to medium businesses that do enough to possibly get someone in the IRS interested like a big landscaping company. May some bars and restaurants, etc.
Generally speaking, I'm not sure of many businesses that "benefit" directly from more taxes and closer audits.
To really find those that benefit I think you'd have to think of the opposite first, who will be most affected by this?
Then, look at their competitors.
So, any sort of cash heavy business that actually reports their income that would pass an audit.
Not really any sort of industry specific, but I'd think this would hit your small to medium businesses that do enough to possibly get someone in the IRS interested like a big landscaping company. May some bars and restaurants, etc.
Generally speaking, I'm not sure of many businesses that "benefit" directly from more taxes and closer audits.
Posted on 8/9/22 at 5:43 pm to baldona
quote:
Generally speaking, I'm not sure of many businesses that "benefit" directly from more taxes and closer audits.
You didn't think very hard. Who helps businesses with audits and tax matters?
Posted on 8/9/22 at 6:24 pm to L S Usetheforce
That's specifically the Company I had in mind. Maybe a repeat of the various alphabet agencies accumulating millions of rounds as during the Obama term.
Posted on 8/9/22 at 8:08 pm to GG_OZ_WM
Turbo Tax Audit Defense add on service
Posted on 8/9/22 at 9:35 pm to GG_OZ_WM
The IRS is incompetent just because they hire 87,000 which might take them a decade anyway, they’ll still be inefficient. Most are straight out of an online degree, and just listen to what their managers tell them. Just act like your complying, and they’ll pass it on to their manager then get you out of their file.
Posted on 8/10/22 at 7:34 am to Catchfalaya
From Yahoo's POWW comment section "IRS this summer has bought 3,151,500 rounds of pistol ammo, over 350,000 rounds of shotgun ammo, almost 1.5 million rounds of rifle ammo.
Not necessarily AMMO being the supplier, but puts further demand on the limited supply chain."
Not necessarily AMMO being the supplier, but puts further demand on the limited supply chain."
Posted on 8/11/22 at 8:48 am to Weagle25
(no message)
This post was edited on 1/6/23 at 10:09 pm
Posted on 8/11/22 at 9:34 am to GG_OZ_WM
pretty much any company subsidized by the government. So any "green" company.
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