Android Agents Dreaming Of Tax Returns

The IRS is using artificial intelligence to assist it in selecting 75 large partnerships for examination. This is the result of collaboration between experts in data science and tax enforcement. These experts have been working together to apply machine learning technology to identify potential compliance risk in the areas of partnership tax, general income tax and accounting, and international tax in a taxpayer segment that historically has been subject to limited examination coverage. The examinations, which are to commence by the end of September, will represent a variety of industries including hedge funds, real estate investment partnerships, publicly traded partnerships, large law firms and other industries. The IRS will also start mailing compliance letters to 500 additional large partnerships that have ongoing balance sheet discrepancies.