© KPMG
The Inflation Reduction Act's clarion call to more than double the size of the IRS has raised hackles and ire across the board. A more domineering IRS is frightful to contemplate. My response to this is simple: Don't worry, it won't happen. Why? The biggest obstacle that the federal government is going to face is where they are going to get the bodies with the skills needed to fill these new positions.
Having worked for 25 years for one of the big three accounting firms, I am more than aware of the challenges the industry has in hiring qualified accounting staff. At one point my firm had set up a program at the University of Virginia to take liberal arts graduates and turn them into accountants over the course of an intense 18 month program . . . such is the difficulty of having enough staff.
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