{"id":12412,"date":"2023-09-14T19:46:35","date_gmt":"2023-09-14T19:46:35","guid":{"rendered":"https:\/\/taxops.com\/?p=12412"},"modified":"2023-09-15T17:58:46","modified_gmt":"2023-09-15T17:58:46","slug":"irs-sharpens-enforcement-on-partnerships-and-large-corporations","status":"publish","type":"post","link":"https:\/\/taxops.com\/irs-sharpens-enforcement-on-partnerships-and-large-corporations\/","title":{"rendered":"IRS Sharpens Enforcement on Partnerships and Large Corporations"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"536\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/taxops.com\/wp-content\/uploads\/2023\/09\/IRS-reprioritizing-compliance-focus-1024x536.png\" alt=\"\" class=\"wp-image-12421 lazyload\" data-srcset=\"https:\/\/taxops.com\/wp-content\/uploads\/2023\/09\/IRS-reprioritizing-compliance-focus-1024x536.png 1024w, https:\/\/taxops.com\/wp-content\/uploads\/2023\/09\/IRS-reprioritizing-compliance-focus-980x513.png 980w, https:\/\/taxops.com\/wp-content\/uploads\/2023\/09\/IRS-reprioritizing-compliance-focus-480x251.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><noscript><img decoding=\"async\" width=\"1024\" height=\"536\" src=\"https:\/\/taxops.com\/wp-content\/uploads\/2023\/09\/IRS-reprioritizing-compliance-focus-1024x536.png\" alt=\"\" class=\"wp-image-12421 lazyload\" srcset=\"https:\/\/taxops.com\/wp-content\/uploads\/2023\/09\/IRS-reprioritizing-compliance-focus-1024x536.png 1024w, https:\/\/taxops.com\/wp-content\/uploads\/2023\/09\/IRS-reprioritizing-compliance-focus-980x513.png 980w, https:\/\/taxops.com\/wp-content\/uploads\/2023\/09\/IRS-reprioritizing-compliance-focus-480x251.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/noscript><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>The Internal Revenue Service is taking a bold step towards what it calls &#8220;restoring fairness in tax compliance.&#8221; In a sweeping initiative announced in IR-2023-166, the IRS is focusing its efforts on high-income earners, partnerships, large corporations, and promoters who may have slipped through the cracks in the past decade.<\/em><\/p>\n\n\n\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio wp-block-paragraph\"><\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">By <a href=\"https:\/\/taxops.com\/stacey-roberts-3\/\" target=\"_blank\" rel=\"noopener\" title=\"Stacey Roberts\">Stacey Roberts<\/a>, Director, State and Local Tax, <a href=\"https:\/\/taxops.com\/allen-gregory\/\" target=\"_blank\" rel=\"noopener\" title=\"Allen Gregory\">Allen Gregory<\/a>, Partner, Partnership Tax, and <a href=\"https:\/\/taxops.com\/lindsay-haskell\/\" target=\"_blank\" rel=\"noopener\" title=\"Lindsay Haskell\">Lindsay Haskell<\/a>, Corporate Tax<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Internal Revenue Service is taking a bold step towards &#8220;restoring fairness in tax compliance.&#8221; In a sweeping initiative announced in <a href=\"https:\/\/www.irs.gov\/newsroom\/irs-announces-sweeping-effort-to-restore-fairness-to-tax-system-with-inflation-reduction-act-funding-new-compliance-efforts%20disclosures%20for%20income%20tax%20reporting\/\" target=\"_blank\" rel=\"noopener\" title=\"\">IR-2023-166<\/a>, the IRS is focusing its efforts on high-income earners, partnerships, large corporations, and promoters who may have slipped through the cracks in the past decade.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To achieve this, the IRS is harnessing the power of AI and cutting-edge technology to uncover compliance threats and detect complex tax avoidance strategies. Their priorities include cracking down on digital asset compliance, addressing Report of Foreign Bank and Financial Accounts (FBAR) violations, regulating labor brokers, and enhancing audit and taxpayer protections.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Expect heightened audit activity if you fall within these target groups. This isn&#8217;t just a federal matter \u2013 state oversight might come into play if audit adjustments affect your state taxes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Got questions or need guidance on tax compliance, planning, strategy, or audits? Reach out to your <a href=\"https:\/\/taxops.com\/contact\/\" target=\"_blank\" rel=\"noopener\" title=\"\">TaxOps Advisor<\/a> today. They&#8217;re here to help you navigate these changes.<\/p>\n\n\n\n<div style=\"height:54px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Let&#8217;s Talk Tax<\/h3>\n\n\n\n<div style=\"height:73px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/taxops.com\/contact\/\" target=\"_blank\" rel=\"noreferrer noopener\">Book Time with a TaxOps Advisor<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:73px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">More Tax News<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/auditor-independence-in-the-age-of-private-equity\/\">Auditor Independence in the Age of Private Equity: What CFOs Need to Know<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/r-d-credits-for-software-companies\/\">R&amp;D Credits for Software Companies: Scrum Teams, Qualifiers, and Section 174 After OBBBA<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/section-174-decoupling-what-tax-pros-need-to-know-state-by-state\/\">Section 174 Decoupling: What Tax Pros Need To Know State By State<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/sean-espy-new-partner\/\">TaxOps Welcomes Sean Espy as Partner, Tax Minimization<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/state-nexus-demystified-navigating-tax-compliance-after-wayfair-episode-1-2\/\">Your Tax Footprint Is Probably Bigger Than You Think: What Finance Leaders Need to Know About State Nexus<\/a><\/li>\n<\/ul>\n\n\n<div style=\"height:73px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Internal Revenue Service is taking a bold step towards what it calls &#8220;restoring fairness in tax compliance.&#8221; In a sweeping initiative announced in IR-2023-166, the IRS is focusing its efforts on high-income earners, partnerships, large corporations, and promoters who may have slipped through the cracks in the past decade. By Stacey Roberts, Director, State [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":12421,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","spt_transcript":"","footnotes":""},"categories":[229,226,227],"tags":[252,388,284,994,1050,126,796,471,36,44,1053,18,19,1051,1081,30,101,601,38,214,139],"class_list":["post-12412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-state-and-local","category-tax-news","category-white-papers","tag-accountant","tag-accounting-professionals","tag-cfo","tag-controller","tag-cp","tag-cpa","tag-exemption-certificates","tag-finance-professionals","tag-income-tax","tag-property-tax","tag-risk-reduction","tag-sales-and-use-tax","tag-sales-tax","tag-sales-tax-exemptions","tag-sales-tax-management","tag-state-and-local-tax","tag-state-tax","tag-tax-administrations","tag-tax-compliance","tag-taxability","tag-voluntary-disclosure"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/taxops.com\/wp-content\/uploads\/2023\/09\/IRS-reprioritizing-compliance-focus.png","_links":{"self":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts\/12412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/comments?post=12412"}],"version-history":[{"count":9,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts\/12412\/revisions"}],"predecessor-version":[{"id":12444,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts\/12412\/revisions\/12444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/media\/12421"}],"wp:attachment":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/media?parent=12412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/categories?post=12412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/tags?post=12412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}