December 3, 2013
The IRS is working to better train its small business auditors and do a better job of selecting small business returns for audit, according to Faris Fink, who represents the Small Business/Self-Employed Division of the IRS.
CFO Magazine reported on Fink’s remarks in his presentation at the American Institute of Certified Public Accountants tax conference in early November. Fink referred to the fuel-tax reporting compliance project, which began in July 2012. The IRS is looking at over 1,000 tax returns, with 600 of those returns in the field right now for examination, the report said.
Next on the agenda is an effort to better train examiners to audit partnership returns, Fink said. Understanding how to audit partnerships “will be a point of emphasis for the next 12 months and, I guarantee you, beyond that.”
This article was originally posted on December 3, 2013 and the information may no longer be current. For questions, please contact GRF CPAs & Advisors at firstname.lastname@example.org.