News & Analysis as of

Internal Revenue Service Audits Enforcement Actions

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Fenwick & West LLP

IRS Memo Directs Agents to Speed Up Audits

Fenwick & West LLP on

A recent memo from the IRS's Large Business and International (LB&I) Division indicates an intention to resolve audits efficiently and provide taxpayers with opportunities to quickly settle and resolve issues....more

Fox Rothschild LLP

IRS Increased Audits Of High-Income Individuals During FY2024, But Future Of Initiative Under New Administration Is Doubtful

Fox Rothschild LLP on

A recent report from the Treasury Inspector General for Tax Administration (TIGTA) found that the Internal Revenue Service increased audits of high-income taxpayers during fiscal year 2024, in line with a 2022 Treasury...more

Holland & Knight LLP

IRS and ICE Memorandum of Understanding Will Drive Tax Payroll Audits and Investigations

Holland & Knight LLP on

In a lawsuit filed by not-for-profit corporations serving Latino immigrants against the U.S. Secretary of the Treasury and IRS, court filings have revealed that the IRS and U.S. Department of Homeland Security (DHS), acting...more

Skadden, Arps, Slate, Meagher & Flom LLP

With New Technology and New Hires, the IRS Aims To Audit More Effectively While Improving Taxpayer Services

New Funding, New Focus - With some $80 billion in initial funding from the Inflation Reduction Act (IRA), the Internal Revenue Service (IRS) began ramping up taxpayer services, issue resolution planning, compliance and...more

Allen Barron, Inc.

How Does the IRS Use AI to Identify Tax Cheats?

Allen Barron, Inc. on

Could Artificial Intelligence (AI) increase the likelihood of an IRS audit in your future? How does the IRS use AI to identify US taxpayers who attempt to hide assets, under-report income or otherwise cheat the IRS? In...more

Allen Barron, Inc.

IRS Focuses Scrutiny on High-Income Taxpayers, Partnerships and Corporations

Allen Barron, Inc. on

New issues come into focus as the IRS focuses scrutiny on high-income taxpayers, partnerships and corporations, as well as those who promote the abuse of tax rules.  The IRS has formally given notice that it intends to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Tax Enforcement: A Spotlight on Complex Partnership Structures

The boost in funding for the Internal Revenue Service (IRS) provided in the Inflation Reduction Act of 2022 (IRA) comes just as it has started rolling out in earnest programs focusing on auditing complex partnership...more

Buckingham, Doolittle & Burroughs, LLC

In the Crosshairs: IRS Increasing Audit and Compliance Efforts for High-Income Households

The IRS recently announced that high-income households will be the target of increased enforcement efforts after the agency reopened on July 15. The Service is aiming to increase compliance amongst high-income taxpayers...more

Mintz - Employment Viewpoints

As Affordable Care Act Enforcement Looms, Some Lessons Learned From Massachusetts

As the ACA audit era approaches, many employers are wondering: what will happen? What sorts of documentation will the IRS request? What industries will be targeted? And what can employers do to prepare? In this post, I...more

Mintz - Employment, Labor & Benefits...

IRS Begins Audit of Deferred Compensation Plans Subject to Section 409A

The IRS announced at recent bar association meeting that it is commencing a formal compliance initiative program (CIP) of selected employers and their deferred compensation arrangements that are subject to Section 409A of the...more

BakerHostetler

IRS “Wealth Squad” – Something to Keep in Mind During Tax Season

BakerHostetler on

The IRS Global High Wealth Industry (“GHWI”) (part of the IRS Large Business & International Division) is auditing individuals with tens of millions of assets or income who utilize complicated financial and estate plan...more

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