How does the IRS choose businesses for employment tax examinations and assess taxes if they aren’t in compliance? That’s what the Treasury Inspector General for Tax Administration (TIGTA) reviewed in a recent audit. The IRS Specialty Employment Tax (ET) segment conducts most employment tax examinations. TIGTA found that ET examinations had higher average dollars assessed per return compared to overall Small Business / Self-Employed Division examinations. However, they also had a higher “no-change rate,” which TIGTA says may mean ET isn’t selecting the most productive cases. It recommends the IRS make improvements to increase taxpayer compliance. Read the report: https://bit.ly/3miI6fR
Our Blog 