How Looming Recession May Affect Tax Collections

How Looming Recession May Affect Tax Collections

The Fed is raising rates. Prices for food and fuel are skyrocketing. Signs are pointing to a recession on the horizon. And as we near the end of 2022, tax time—that time of year everyone looks forward to (sarcasm)—is also on the horizon.

As a business leader, it’s important to be proactive and recognize your limitations. Don’t try to fool the IRS and cut corners because it never turns out well.. Scott Curley, o-CEO of FinishLine Tax Solutions outlines how a recession would impact taxpayers and how the IRS will be responding to them.