11 new IRS Compliance Campaigns

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IRS LB&I Division Announces Additional Compliance Campaigns: Earlier this year, the IRS’s Large Business and International (LB&I) division adopted a new audit strategy that focuses on specific issues, or “campaigns.” Initially, the IRS selected 13 campaigns, which were identified through extensive data analysis, suggestions from IRS compliance employees, and feedback from tax practitioners. LB&I has now identified 11 additional compliance campaigns that primarily focus on international tax areas.

The 11 campaigns are:
• Form 1120-F chapters 3 and 4 withholding;
• Swiss bank program;
• foreign earned income exclusion;
• verification of Form 1042-S credit claimed on Form 1040NR;
• agricultural chemicals security credit;
• deferral of cancellation of indebtedness income;
• energy efficient commercial building property;
• corporate direct (Section 901) foreign tax credit;
• Section 956 avoidance;
• economic development incentives; and
• individual foreign tax credit (Form 1116)

More information can be found at www.irs.gov/businesses/large-business-and-international-launches-compliance-campaigns-0

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