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rcooley25
Level 7
August 5, 2022
Question

New Tax Bill

  • August 5, 2022
  • 1 reply
  • 1 view

What is your opinion of the new tax bill?

87000 new auditors?

With so many income tax returns now being standard deduction it would seem that we have less need of auditors and not more>

This topic has been closed for replies.

1 reply

sjrcpa
sjrcpa
Level 15
August 5, 2022

There are more tax returns than 1040s.

And 1040s have Schedule C businesses, Schedule F farms, Schedule E rentals. There's more to audit than itemized deductions.

Although I wish more money and effort would go taxpayer, and tax professional, services before audits.

The more I know the more I don’t know.
    T
    TaxGuyBill
    Level 15
    August 6, 2022
    @sjrcpa wrote:

    Although I wish more money and effort would go taxpayer, and tax professional, services before audits.

     

    In my opinion,  it would be ideal if the 87,000 new auditors would audit from May through January, and do telephone help or other customer service from February through April.  But I doubt that will happen.

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