The Internal Revenue Service has released a list of industry-specific issues that its auditors may consider when examining a business's returns.

The list of so-called "Tier III issues" relates to industries ranging from cable TV providers to car dealerships, insurers and airlines. One issue deals with real estate mortgage investment conduits. The IRS is looking into the issue of REMIC sponsors' understatement of reportable gain on the retention and sale of regular interests. The agency will be reviewing the economic models and assumptions used by the sponsors to value residual interests in order to determine if the fair market value and basis allocations are appropriate.

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