IRS To Begin Transition Tax Enforcement Drive This Fall

Law360 (July 29, 2020, 5:44 PM EDT) -- The Internal Revenue Service will begin distributing letters and placing people into its audit pipeline in October to enforce the transition tax on overseas profits included in the 2017 tax law, an agency official said Wednesday. 

The IRS expects to send thousands of letters to people who the agency suspects may need to comply more fully with the repatriation tax, Douglas O'Donnell, commissioner of the IRS' Large Business and International Division, said during a webcast hosted by the American Bar Association Section of Taxation.

Hundreds of others who have flouted their related compliance responsibilities will likely be placed into the agency's...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Companies

Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!