Hazy Revamp Of Large-Business Audits Offers IRS Leeway

Law360, New York (March 18, 2016, 9:45 PM EDT) -- As the Internal Revenue Service begins rolling out an overhaul of the way it audits the largest corporations, tax professionals say they are still unsure about what exactly the revamp will look like, and that could be by design.

Last year, the IRS announced a reorganization of its Large Business and International Division, the arm of the agency responsible for auditing companies with assets of more than $10 million. IRS officials said the newly reorganized LB&I, structured around nine working groups and four efficiency-minded guiding principles, will move the agency away from the old approach, under which large multinational companies were...

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