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IRS’s Large Business & International Division To Increase Focus On Partnerships
The IRS’s LB&I Division will be increasing its audit focus on partnerships, division Acting Commissioner Holly Paz said. “Over the last several years, our audit efforts have not kept pace as that partnership population has grown, our coverage rates have not kept up in that space,” Paz told attendees at the American Bar Association’s 33rd annual Philadelphia Tax Conference on November 15, 2022. “So that’s something that’s been a real focus for us. Obviously, it’s not going to change overnight, it’s going to be a multiyear effort to really increase our presence in that space.”
