IRS works to implement Inflation Reduction Act

January 20, 2023

The IRS is in the process of revising dozens of tax forms and developing tax regulations to implement the Inflation Reduction Act, according to a new report from the Treasury Inspector General for Tax Administration (TIGTA).

The TIGTA report noted the agency estimates the tax law provisions impacting the current filing season will require creating or revising 24 tax forms, 29 tax form instructions and three publications before the start of the filing season.

The IRS will also need to modify 20 information technology systems to accommodate the new and revised tax forms, according to the TIGTA report.

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