IRS New Compliance Campaigns and International Audits of Individuals
December 13, 2017
On November 3, 2017, the IRS announced the roll out of 11 Large Business and International (LB&I) Compliance Campaigns.LB&I previously announced the roll out of its first 13 campaigns on 1/31/17. In an effort to make the best use of its limited resources, the IRS is moving toward “issue-based examinations” in which a civil tax audit is focused on a particular issue that LB&I has deemed to be a compliance risk. LB&I’s goal is to improve return selection, identify issues representing a risk of noncompliance, and make the greatest use of limited resources, according to the IRS.