ARTICLE · 24 MAY 2018

IRS Announces Six New Campaigns

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Yesterday, the Large Business and International Division ("LB&I") of the IRS announced six new compliance campaigns. Faced with continued budget cuts ...

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Yesterday, the Large Business and International Division ("LB&I") of the IRS announced six new compliance campaigns. Faced with continued budget cuts, LB&I reprioritized its compliance work into designated "campaigns," wherein it directs resources across taxpayers and industries on specific issues that face high risk of noncompliance. It announced the first 13 campaigns on January 31, 2017, added 11 more on November 3, 2017 and five more on March 13, 2018. The new campaigns focus on disparate foreign and domestic issues. They are:

(1) Interest Capitalization for Self-Constructed Assets

(2) F3520/3520-A Non-Compliance and Campus Assessed Penalties

(3) Forms 1042/1042-S Compliance

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