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As the IRS scrutinizes large partnerships, they have new ways to report and correct errors in their returns.
December 5 -
The Internal Revenue Service is looking to boost its historically low audit rates for complex arrangements.
October 24 -
The Internal Revenue Service is ramping up its scrutiny of large partnerships, leveraging increased funding under the Inflation Reduction Act of 2022.
September 3 -
The Treasury Department directed the IRS not to use any additional Inflation Reduction Act funds to increase audits on small businesses or households earning less than $400,000.
August 30 -
Six years of the Centralized Partnership Audit Regime have elucidated a central understanding: the provisions present plenty of potential pitfalls for partnerships, partnership representatives and the partners.
August 22Chamberlain Hrdlicka -
The agency is hoping to counter a widespread impression that people can get away without paying their taxes, according to Commissioner Werfel.
July 11 -
The Government Accountability Office recently found that some populations may be getting selected for IRS audits at a higher rate than others.
July 9Government Accountability Office -
The Internal Revenue Service switched over from focusing its audits on taxpayers earning $10 million or more to those earning $400,000 or more after passage of the Inflation Reduction Act.
June 24 -
The Internal Revenue Service is setting up a new unit to target the use of basis shifting between related parties as a way for partnerships to avoid paying taxes.
June 17 -
The Internal Revenue Service is turning to artificial intelligence to help select tax returns to audit and narrow the tax gap, but it needs to use this new technology consistently and transparently, according to a new government report.
June 5