IRS gears up to go after ‘complex partnerships’ despite lack of clear definition ...Middle East

The IRS is getting ready to go after what it calls “large, complex partnerships” as part of its push to pursue wealthy tax cheats with tens of billions of dollars in additional funding. The IRS plans to double audit coverage for partnerships with $10 million or more in assets by fiscal year 2025 over fiscal 2021 levels. Here’s how the IRS will spend its $80 billion funding boost But new research from the government’s internal watchdog finds that the specific types of legal and commercial structures the IRS is targeting need to be more clearly defined in order to recoup the uncollected funds. “IRS has not defined or developed guidance on what a large, complex partnership is or

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