March 1, 2023
The IRS Has a Five-Year Strategy
What’s in the New IRS Strategic Plan?
The Internal Revenue Service (IRS) unveiled a five-year strategic plan to improve taxpayer service and administration. The IRS Strategic Plan FY 2022-2026 focuses on four goals to improve customer service: Service, Enforcement, People, and Transformation.
These goals are meant to help the agency better meet the changing needs of taxpayers and the tax community while upholding taxpayer rights and enforcing the tax code fairly. The plan was developed with input from external partners and IRS employees and will guide the agency’s programs and operations over the next five years.
“We serve and interact with more Americans than nearly any other public or private organization,” said IRS Commissioner Chuck Rettig. “The IRS has undergone tremendous change over the last five years, and we continue to evolve to serve the nation’s taxpayers better.”
What does this five-year plan mean for small businesses?
It’s likely that the IRS Strategic Plan FY 2022-2026 will have a significant impact on small business owners as it strives to improve customer service, increase voluntary compliance, and narrow the tax gap.
Additionally, with a new focus on accessibility and quality services, small business owners may experience a smoother tax filing process and have easier access to resources and support from the IRS. The plan’s emphasis on enforcement could mean that small businesses engaging in noncompliant activities may face increased scrutiny and penalties.
Wilke CPAs & Advisors pays close attention to developments within the IRS affecting small business owners. Contact us to discuss how this new five-year plan affects your unique business situation.