IRS Still Vague On Large Business Audit Details

Law360, New York (May 31, 2017, 9:38 PM EDT) -- Two years after the Internal Revenue Service announced changes in how it would audit large corporations, practitioners say they are being left in the dark by vague guidance on how the new audits will work.

Over the last three months, the IRS has been presenting a series of webinars to explain its approach to auditing corporations with assets of more than $10 million. The webinars follow the agency's January unveiling of 13 specific areas that the IRS said it will focus on during audits as it prepares to transition to issue-based examinations from a system of placing large multinational businesses under...

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