July 2, 2018
Five Compliance Campaigns
The IRS Large Business and International division (LB&I) has announced the approval of five additional compliance campaigns. LB&I announced on January 31, 2017, the rollout of its first 13 campaigns, followed by an additional 11 on November 3, 2017, five campaigns on March 13, and six more campaigns on May 21.
LB&I continues to review legislation enacted on December 22, 2017, to determine which existing campaigns, if any, could be impacted as a result of a change in the controlling statutory framework. Information regarding any identified impact will be communicated after that analysis has been completed.
LB&I is moving toward issue-based examinations and a compliance campaign process in which the organization decides which compliance issues that present risk require a response in the form of one or multiple treatment streams to achieve compliance objectives. This approach makes use of IRS knowledge and deploys the right resources to address those issues.
The campaigns are the culmination of an extensive effort to redefine large business compliance work and build a supportive infrastructure inside LB&I. Campaign development requires strategic planning and deployment of resources, training and tools, metrics and feedback. LB&I is investing the time and resources necessary to build well-run and well-planned compliance campaigns.
These five additional campaigns were identified through LB&I data analysis and suggestions from IRS employees. LB&I's goal is to improve return selection, identify issues representing a risk of non-compliance, and make the greatest use of limited resources.
The five campaigns selected for this rollout are:
- Restoration of Sequestered AMT Credit Carryforward
- Practice Area: Enterprise Activities
- S Corporation Distributions
- Practice Area: Pass Through Entities
- Virtual Currency
- Practice Area: Withholding & International Individual Compliance
- Repatriation via Foreign Triangular Reorganizations
- Practice Area: Cross-Border Activities and Northeastern Compliance
- Section 965 Transition Tax
- Practice Area: Cross-Border Activities