According to the Kiplinger Tax Letter, April 13, 2012

“The IRS is shifting the focus of its examinations of businesses. Fewer resources will be devoted to very large corporations.”

Instead the Service will be turning their attention this year towards pass-through entities (S Corporations and Partnerships), midsize firms (those with assets between $10 million and $250 million), and firms “involved in international operations and financial products.” The Internal Revenue Service added 600 international auditors to its clan last year and will be looking to add another 300 this year.

Stephen Osborne
Accountant
sosborne@mo-cpa.com