IRS to Lose a Third of Its Work Force
By: Anna Sulkin Stern
"High-net-worth taxpayers with complex estates may also face difficulty obtaining IRS guidance, for example, private letter rulings, on estate planning strategies. However, Patrick D. Owens, a shareholder in the Chicago office at Buchalter, says he doesn’t foresee a large impact on HNW clients. “Most HNW clients have fairly sophisticated tax experts advising them and maintain good compliance. The impact will likely be felt in the increase in time incurred by the professionals attempting to resolve issues in compliance and audits,” he added."
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