The Internal Revenue Service wants to ease the pain of audits for its taxpayers who fall into the Large and Mid-Size Business Division. The agency this week launched a streamlined examination process that promises to focus on the issues most pertinent to the questioned returns.
As part of the program, the IRS and the taxpayer will agree upon and sign a formal "memorandum of understanding" that will lay out the parameters of dollar-limits below which the IRS will agree not to raise issues and the taxpayer will agree not to file claims.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access