The Internal Revenue Service has begun a study to assess the reporting compliance of S corporations. The study, carried out under the National Research Program, will examine 5,000 randomly selected S corporation returns from tax years 2003 and 2004. Created in 2000, the NRP is a comprehensive effort by the IRS to measure payment, filing and reporting compliance for different types of taxes and various sets of taxpayers.
"The use of S corporations has exploded," said IRS Commissioner Mark W. Everson in a statement. "The IRS needs a better understanding of what this means for tax compliance. This research is critical for achieving our strategic goal of ensuring that corporations and high-income individuals are paying their fair share."
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