IRS Aims New Campaigns At US Individuals' Foreign Income

Law360 (July 22, 2019, 8:47 PM EDT) -- The IRS has announced six new compliance campaigns focused on issues affecting U.S. nationals' overseas income, capital gains taxes for some pass-through businesses and certain forms of deferred compensation for services.

A statement Friday from the Internal Revenue Service's Large Business and International division didn't include a launch date for the campaigns, but their adoption brings the total number of LB&I compliance initiatives to 59.

The latest campaigns were decided through data analysis by the division — which oversees corporations, subchapter S corporations under the U.S. tax code and partnerships with assets of over $10 million — as well as suggestions...

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