Tax administration in the 90s: the new "reign of terror."

Article Abstract:

The IRS and the US Dept. of Treasury are using proposed legislation and regulations to deter law-abiding taxpayers from minimizing tax liabilities through the use of legitimate tax planning. The Treasury has been proposing changes in tax law that have little chance of being enacted but that will chill taxpayer willingness to enter into such transactions. The IRS has been adding anti-abuse provisions to recently enacted regulations to provide itself with the power to recharacterize transactions that may have had some tax motivation, despite the presence of substantial business purpose.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code:

IRS audits get new LIFE

Article Abstract:

The IRS will begin a new audit program knows as Limited Issue Focused Examination. Tax audits under the program will be more focused and specific as to the issues being examined. Also the IRS and the taxpayer being audited will come to an agreement not to contest issues under a certain dollar amount.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code:

Resolving actual and potential disputes with the IRS in the new economy

Article Abstract:

The author discusses changes in the IRS' administration which are geared toward aiding companies in resolving tax disputes.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code: