We frequently post about the Internal Revenue Service’s (IRS) tax enforcement trends and announcements. Prior examples from this year include the release of a five-year strategic plan.
Internal Revenue Service IRS released memo on Large Partnership Compliance Pilot Program, including identifying, selecting, delivering large partnership tax returns, exam procedures. Program goal is to identify large partnership cases, improve compliance risk identification.
Over three-quarters of the audits conducted by the Internal Revenue Service under its centralized partnership audit regime resulted in no change in taxes, according to a new report.
The wait is finally over: The Internal Revenue Service Large Business and International (LB&I) Division will start implementing the Large Partnership Compliance (LPC) Program within the next two weeks. The IRS introduced the program last year.
significant Internal Revenue Service IRS guidance and relevant tax matters for the week of October 25, 2021 – October 29, 2021. Implementing the Large Partnership Compliance LPC Pilot Program; notice and request for comments concerning the foreign tax credit used by individuals, estates or trusts.