The Internal Revenue Service is ramping up its scrutiny of large partnerships, leveraging increased funding under the Inflation Reduction Act of 2022. Processing Content Last year, the IRS announced a ...

In recent years, the IRS has focused its attention and resources on large partnerships. In 2021, the agency launched an initial phase of its Large Partnership Compliance (LPC) program. Under this ...

IRS Commissioner Danny Werfel gave us a glimpse of what was coming last month when he suggested that taxpayers would see more changes at the agency. This week, he offered more details, announcing a ...

"Because I represent taxpayers examined by the IRS, I have a compelling need to understand how the IRS plans to impose on my clients so that I can effectively advise them and protect their rights," ...

The Internal Revenue Service plans to audit 75 large partnerships, including real estate specialists and hedge funds, though the agency hasn't yet named the companies involved, The Wall Street Journal ...

Individual partners of partnerships and individual shareholders of S corps are now eligible for a business tax account, according to the Internal Revenue Service, joining sole proprietors. Processing ...

Proposed regulations would provide permanent relief from certain reporting requirements related to sales or exchanges of ...