Inflation Reduction Act Triggers Numerous Tax Form Changes

The passage of the Inflation Reduction Act in 2022 has triggered changes to many tax forms, tax form instructions, and other publications prior to the start of the 2023 tax filing season.

According to a recent report on the implementation of IRA provisions issued by the Department of the Treasury Inspector General for Tax Administration, the Internal Revenue Service “estimates the tax law provisions impacting the 2023 Filing Season will require creating or revising 24 tax forms, 29 tax form instructions, and three publications before the start of the filing season,” which began on January 23, 2023.

“In addition, the IRS will have to modify 20 information technology systems to accommodate the new and revised tax forms,” the report continued.

The report did not provide any further details on the forms, instructions, or publications, including a comprehensive list of the forms affected or created, by the Inflation Reduction Act.

TIGTA made no recommendations to the IRS in the report, which provided an overview of many of the actions the agency has taken in 2022 to improve its operations and highlighted some of the well-documented needs that the extra funds allocated to the IRS in the Inflation Reduction Act will address.