• IRS Launches Issue Based Corporate Compliance Campaigns
  • April 27, 2017
  • Law Firm: Caplin Drysdale Chartered - Washington Office
  • On January 31, 2017, the US Internal Revenue Service (IRS) launched its first wave of compliance "campaigns." A campaign is an issue-based compliance process centering on focused examinations, staffed with IRS experts on the targeted subject matter. The identified campaigns cover a broad range of topics. Working through the Large Business and International division (LB&I), the IRS will deploy resources to investigate and remediate these issues through one or more "treatment streams." This new issue-focused approach means businesses and high-net-worth individuals dealing with any of the identified issues face increased IRS audit risk, and should work with their legal advisors to prepare for IRS challenges of their positions. In this article, for each of the campaigns of interest to Global Tax Weekly readers, we identify the targeted issue(s), explain the IRS strategy, and provide relevant insights for how the campaign will impact taxpayers.