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Audit Readiness

Are you prepared for IRS exams?

Audit readiness reviews

The Internal Revenue Service (IRS) has embarked on many new initiatives and enforcement tactics. Among the strategic initiatives of the IRS are the following:

  • Compliance risk — Identify and address the Large Business and International (LB&I) compliance risks for the increasingly global LB&I taxpayer.
  • Re-engineering and issue management — Re-engineer and institutionalize issue management strategies and compliance processes.
  • Compliance information management — Use partnerships, processes, and legislative changes to provide timely data to effectively assess the reporting compliance risks in the LB&I population.

As a result, businesses of all sizes and types face heightened scrutiny from the IRS today as it seeks to examine increased numbers of taxpayers and seeks to improve the efficiency of its examination process through increased taxpayer transparency.

The Tax Controversy professionals at Deloitte help companies strengthen their audit readiness programs and plan ahead for future tax risks.

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As used in this document, “Deloitte” means Deloitte LLP [and its subsidiaries]. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

 

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