News & Analysis as of

Large Business & International Division (LB&I) Tax Liability

Miller Canfield

Watch the Scope of Your IRS Closing Agreement

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The rules relating to delegated authority are complex. A taxpayer is well advised to ensure that the scope of a closing agreement the taxpayer signs is what the taxpayer expects, and that an IRS official who signs the...more

McDermott Will & Emery

Weekly IRS Roundup January 3 – January 6, 2023

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 3, 2023 – January 6, 2023...more

Snell & Wilmer

The IRS Intends to Audit Hundreds of High-Wealth Taxpayers – Consider Getting Ready Now!

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The Internal Revenue Service (IRS), through its Large Business and International Division (LB&I), has created a Global High Wealth (GHW) program to audit hundreds of high-wealth taxpayers who own assets or earnings in the...more

McDermott Will & Emery

Weekly IRS Roundup November 18 – 22, 2019

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 18 – 22, 2019. November 19, 2019: The IRS published final regulations that affect United...more

Troutman Pepper

When Can Capitalized Transaction Costs Be Recovered? Recent LB&I Transaction Unit Provides Insight

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Taxpayers typically incur significant transaction costs when undergoing a transaction involving a restructuring, acquisition, disposition, sale of assets, or sale of stock. The default rule under section 263 is that all...more

McDermott Will & Emery

The Internal Revenue Service Is Expanding the 2020 Compliance Assurance Process

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The Large Business and International Division of the Internal Revenue Service (IRS) developed the Compliance Assurance Process (CAP) program to improve large corporate taxpayer compliance with US federal tax obligations...more

Jones Day

Jones Day Presents: LB&I Examination Strategies: Effective Strategies for Elevating Issues

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In the fourth installment of Jones Day’s series of video presentations on the IRS's Large Business & International Division ("LB&I") exam procedures, partner and tax litigator Chuck Hodges explains how the IRS’s new process...more

Jones Day

Jones Day Presents: LB&I Examination Strategies: Responding to IDRs

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In the second installment of Jones Day’s video series on the IRS's Large Business & International Division ("LB&I") exam process, partner and tax litigator Chuck Hodges discusses changes in how the division issues Information...more

Jones Day

Jones Day Presents: LB&I Examination Strategies: Process Overview

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In 2016, the IRS's Large Business & International (LB&I) Division significantly altered its examination processes. In the first in a series of programs on LB&I strategies, Jones Day partner and tax litigator Chuck Hodges...more

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