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  Legal and Scholarly
Federal Tax Weekly, CCHGroup.com
April 4, 2013

IRS Updates LB&I Directive On Repair Regs; Maintains Stand-Down Of Audits For Pre-2014 Years

“Just because IRS auditors find there are additional taxes due in their opinion doesn’t mean it is necessarily ever collected,” Susan Long, professor, Syracuse University and co-director,Transactional Records Access Clearinghouse (TRAC) told CCH. “When you speak about revenue,it is a more complicated picture to look at, since there may be appeals contesting the amount as well as issues of collectability once the amount is finally determined. But I don’t think anyone debates that if IRS had more auditors it would be able to raise more money than those auditors cost.”

Transactional Records Access Clearinghouse, Syracuse University
Copyright 2013
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