The IRS Large Business and International Division (LB&I) has announced five additional campaigns to make return selection more efficient, identify problems representing noncompliance risk and determine the best use of limited resources. LB&I is moving toward issue-based examinations and a compliance campaign process in which compliance issues that present risk are better managed using a coordinated and streamlined approach to achieve compliance objectives. Three of these new campaigns relate to international tax provisions affecting businesses and individuals. Taxpayers should be aware of these campaigns and make sure they are in compliance with governing law and regulations.
Read the full article about the five new campaigns announced on the IRS website.