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IRS Challenged for Allocation of Audit Resource

As reported in Tax Analysts , the Syracuse University's Transactional Records Access Clearinghouse (TRAC) report of April 12 faulted the the IRS for committing less audit resources to large corporations, while IRS representatives countered by saying that the reduction in the number of large corporation...

The Taxman Cometh: IRS Audit Focus on Middle Market Companies

In a recent speech at the mid-year conference of the Tax Executives Institute, IRS Deputy Commissioner Steven T. Miller laid out the framework for the future of IRS corporate audits. To borrow Mr. Miller's own assessment, this is bad news for large corporate taxpayers in the CIC (Coordinated Industry...

The Scariest Tax Form? Scary Is in the Eye of the Beholder

Robert Wood has a timely reminder that certain forms, if not filed or filed properly, can create major statute of limitations problems for U.S. taxpayers. Robert W. Wood, Scariest Tax Form? Skip It, And IRS Can Audit Forever (Forbes 3/l3/14), here . The particular form he focuses on is the Form 5471...