IRS Announces the Identification and Selection of Six Large Business and International Compliance Campaigns: Today the IRS Large Business and International division (LB&I) has announced the approval of six additional compliance campaigns. The campaigns are the culmination of an extensive effort to redefine large business compliance work and build a supportive infrastructure inside LB&I. The six 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 six campaigns selected are as follows:
- Interest Capitalization for Self-Constructed Assets
- F3520/3520-A Non-Compliance and Campus Assessed Penalties
- Forms 1042/1042-S Compliance
- Nonresident Alien Tax Treaty Exemptions
- Nonresident Alien Schedule A and Other Deductions
- Nonresident Alien Individual Tax Credits