Tuesday, October 25, 2005

An Insider's View of How to Deal with IRS Corporate Auditors

Former IRS Commissioner Lawrence Gibbs, speaking to the Tax Executives Institute, advised listeners to avoid an overly adversial relationship with with IRS business auditors. Instead, he encouraged tax staffs of large and mid-sized businesses to develop relationships with the auditors, noting that the auditors can influence the issues raised in an audit. Gibbs also recommended disclosing more rather than less and avoiding prepackaged tax shelters unless there is a real and clear business purpose.


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