IRS Targets - Don't Be One. - John R. Dundon II, Enrolled Agent
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IRS Targets – Don’t Be One.

21 Feb IRS Targets – Don’t Be One.

Posted at 00:00h in IRS Appeal, IRS Audit, IRS Collections, IRS Criminal Enforcement, IRS Enforcement, IRS Examination, IRS Levy, IRS Lien, IRS Mediation, IRS Penalties, IRS Penalty and Interest Abatement, Tax Relief by
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In 2013, the IRS will focus the significant majority of their enforcement budget and subsequent activity in my opinion on three specific areas:

1. Abusive transactions and under reported income on partnership returns (IRS Form 1065).

2. Officer compensation as well as losses taken in excess of basis in Sub-chapter S Corporations (IRS Form 1120-S).

3.Under reported incomeviaAutomated Under Reporter Inventory Strategy Database (AUR-ISD)

In 2012, the IRS started a business information-matching program and aForm 1099-Kmatching program. The IRS sent new notices in late 2012 questioning businesses on the accuracy of their returns, based on information statements filed under business employer identification numbers (EINs). The IRS also matchedForms 1099-Kto business returns and sent inquiries to taxpayers with potential discrepancies, requesting explanations for possible unreported income. I have been informed by reliable sources inside the Service that in 2013, the IRS will expand this effort to address small business under reporting vastly beyond its reaches in 2012.

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