On January 31, 2017, the IRS Large Business and International Division (LBI) announced a compliance campaign strategy to redefine large business compliance work and build a supportive infrastructure inside the LBI. The campaigns require strategic planning and deployment of IRS knowledge resources in order to address non-compliance issues. As of October 31, 2018, IRS LBI has identified 50 campaigns:
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1120-F Delinquent Returns Campaign
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1120F Interest Expense/Home Office Expense
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Agricultural Chemicals Security Credit Campaign
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Basket Transactions Campaign
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Corporate Direct (Section 901) Foreign Tax Credit (“FTC”)
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Costs that Facilitate an IRC Section 355 Transaction
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Deferral of Cancellation of Indebtedness Income Campaign
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Deferred Variable Annuity Reserves & Life Insurance Reserves IIR Campaign
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Domestic Production Activities Deduction, Multi-Channel Video Program Distributors (MVPD’s) and TV Broadcasters
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Economic Development Incentives Campaign
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Energy Efficient Commercial Building Property Campaign
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F3520/3520-A Non-Compliance and Campus Assessed Penalties
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FATCA Filing Accuracy
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Foreign Base Company Sales Income: Manufacturing Branch Rules
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Foreign Earned Income Exclusion Campaign
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Forms 1042/1042-S Compliance
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Form 1120-F Chapter 3 and Chapter 4 Withholding Campaign
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Form 1120-F Non-Filer Campaign
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Inbound Distributor Campaign
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Individuals Employed by Foreign Governments & International Organizations
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Individual Foreign Tax Credit (Form 1116)
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Individual Foreign Tax Credit Phase II
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IRC 48C Energy Credit Campaign
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IRC Section 199 – Claims Risk Review
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Interest Capitalization for Self-Constructed Assets
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Land Developers - Completed Contract Method (CCM) Campaign
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Micro-Captive Insurance Campaign
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Nonresident Alien Schedule A and Other Deductions
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Nonresident Alien Tax Treaty Exemptions
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NRA Tax Credits
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Offshore Service Providers
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OVDP Declines-Withdrawals Campaign
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Partial Disposition Election for Buildings
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Partnership Stop Filer
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Related Party Transactions Campaign
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Repatriation Campaign
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Repatriation via Foreign Triangular Reorganizations
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Restoration of Sequestered AMT Credit Carryforward
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S Corporation Distributions
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S Corporation Losses Claimed in Excess of Basis Campaign
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Sale of Partnership Interest
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SECA Tax
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Section 956 Avoidance
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Section 965 Transition Tax
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Swiss Bank Program Campaign
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Syndicated Conservation Easement Transactions
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TEFRA Linkage Plan Strategy Campaign
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Verification of Form 1042-S Credit Claimed on Form 1040NR
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Virtual Currency
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Work Opportunity Tax Credit
Issue-Based examinations
The current 50 compliance campaigns present risk and require a response in the form of “one or multiple treatment streams” to achieve compliance objectives via examinations and letters to achieve compliance objectives.
Don’t be a victim of your own making
If you are a Taxpayer with an issue in one of the 50 LBI’s compliance campaigns, consult your tax specialist in order to be ready for an IRS audit.