IRS Adds Six Additional Compliance Campaigns
August 2019 Since shifting its audit strategy to issue-based examinations in January 2017, the IRS Large Business and International (LB&I) division has announced 59 separate compliance campaigns. Recently, the LB&I division announced the addition of six new additional compliance campaigns.
IRS Revises Procedures for Obtaining Employer Identification Numbers
April 2019 As part of its ongoing security review, the Internal Revenue Service announced last week that it is implementing new procedures that will allow only certain individual taxpayers qualifying as the "responsible party" to request Employer Identification Numbers (EIN) for a legal entity.
Treasury Department Issues Regulations Regarding Deferral of Capital Gain Invested in Qualified Opportunity Zone Property
November 2018 The “Tax Cuts and Jobs Act” (“TCJA”) passed by Congress in December 2017 included a new incentive designed to encourage investment in economically distressed geographic areas designated as Qualified Opportunity Zones (“QOZ”).
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