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Understanding the Large and Mid-Size Business (LMSB) Examination Process Understanding the LMSB Examination Process is a comprehensive guide to examinations conducted by the LMSB Division of the Internal Revenue Service. The guide provides an overview of the examination process for large and mid-size business taxpayers who may be the subject of an IRS examination. Small Business and Self-Employed One-Stop Resource This section offers a broad range of resources across federal and state agencies, as well as industry/profession specific information for self-employed entrepreneurs, employers and businesses. |
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Industry Issue Focus The Large and Mid-Size Business Division (LMSB) of the IRS is implementing an Industry Issue Focus (IIF) approach to compliance as part of its overall issue management strategy. Under this approach, issues are identified and prioritized based on industry impact and level of compliance risk. The International Tax Gap Find resources on this page pertaining to the international tax gap — the difference between the amount of tax that taxpayers should pay and the amount that is paid voluntarily and on time. The tax gap can also be thought of as the sum of non-compliance with the tax law. e-file for Large and Mid-Size Corporations Certain large and mid-size corporations are required to electronically file their Forms 1120 and 1120S. Other corporations may do so voluntarily. This site provides e-file information for corporations that prepare and transmit their own electronic corporate income tax returns and those that use the services of third party tax professionals. Income from Abroad is Taxable There have been recent reports about the interest of the Internal Revenue Service (IRS) in taxpayers with bank accounts in Liechtenstein. The interest of the IRS, however, extends beyond bank accounts in Liechtenstein to financial accounts anywhere in the world. Consequently, the IRS reminds you to report your worldwide income on your U.S. tax return and lists the possible consequences of hiding ... Job Opportunities Now Available in LMSB Hundreds of GS-12 and GS-13 positions in the Large and Mid-Size Business Division are being advertised nationwide to external candidates. Employee Tool & Equipment Plans The Internal Revenue Service has established a compliance team to address the marketing and mistreatment of employee tool and equipment plans as tax-favored accountable plans. Qualified Alternative Fuel Motor Vehicles (QAFMV) and Heavy Hybrid Vehicles Manufacturers of the vehicles in this list have provided appropriate information and have received from the Service acknowledgement of the vehicles eligibility for either the Credit for Heavy Hybrid Vehicles or the Qualified Alternative Fuel Motor Vehicle Credit. IRS Seeking ETAAC Applicants from Large Businesses IRS is seeking applicants from large businesses for membership on the Electronic Tax Administration Advisory Committee (ETAAC). We are trying to balance the membership to include representatives from large businesses who file annual corporation and partnership tax returns. Private Debt Collection Program You've been contacted by a private collection agency concerning your overdue taxes. Now what? Click here for more. Tax Information For Corporations Information for corporate taxpayers about pre-filing initiatives, e-file information, Appeals programs, S Corporations, technical resources, and other pertinent corporate taxation topics. Abusive Tax Shelters and Transactions The Internal Revenue Service has a comprehensive strategy in place to combat abusive tax shelters and transactions. This strategy includes guidance on abusive transactions, regulations governing tax shelters, a hotline for taxpayers to use to report abusive technical transactions, and enforcement activity against abusive tax shelter promoters and investors. IRS Job Opportunities for Instructors and On-the-Job Instructors The Large and Mid-Size Business (LMSB) Division of the IRS is looking for retired employees, including executives and managers, with Internal Revenue Agent experience to serve as Instructors and On-the-Job Instructors. Audit Techniques Guides (ATGs) The Audit Techniques Guides (ATG) focus on developing highly trained examiners for a particular market segment. These Guides contain examination techniques, common and unique industry issues, business practices, industry terminology and other information to assist examiners in performing examinations. Coordinated Issue Papers - LMSB The IRS works to identify, coordinate, and resolve complex and significant industry wide issues by ensuring uniform application of the law through the issuance of coordinated issue papers. Although these papers are not official pronouncements on the issues, they do set forth the Service's current thinking. EFTPS: The Electronic Federal Tax Payment System Electronic Federal Tax Payment System (EFTPS). Free from the U.S. Treasury. Employment Taxes for Businesses The subject of employment taxes is not as formidable when you consult our comprehensive resources. Estate and Gift Taxes The Estate and Gift Tax web site contains information that will give you a better understanding of how much money or property you can give away during your lifetime or leave to your heirs at your death before any tax will be owed. Excise Tax The Excise Tax Web pages contain information associated with the manufacture, sales or consumption of certain commodities. Excise Tax has several general tax programs and one of the major components is motor fuel. These pages will assist you in finding out information about the various programs, databases, and activities within Excise Tax. Federal Payment Levy Program Certain payments made to contractors/vendors doing business with the federal government and disbursed by or administered through the Department of the Treasury, Financial Management Service (FMS) may be subject to a 15 percent or 100 percent levy through the Federal Payment Levy Program (FPLP) to pay your delinquent tax debt. Find out your appeals rights and how to resolve any dispute. Filing Late and/or Paying Late Before you decide not to file your tax return on time or not pay all of your taxes when they are due, consider this. HCTC: Health Plan Administrators - Overview This section of the website is intended to provide health plan administrators with the information you need as partners in the HCTC program. We organized the information around three topic areas. Industry Issue Resolution Program The Industry Issue Resolution (IIR) Program resolves frequently disputed or burdensome tax issues. IRS solicits suggestions for issues for the program from taxpayers, representatives and associations. Information for Large and Mid-Size Businesses This page provides links which are helpful for large to mid-size businesses with assets greater than $10 million Information Returns Processing The Information Reporting Program Website is designed to help you meet your Information Reporting Requirements. Included are help-line telephone numbers and direct links to aid you in reporting information returns. You will also find information about how to file returns electronically or magnetically. LMSB Industry Director Guidance LMSB Directives provide industry-related and administrative guidance to LMSB examiners to ensure consistent tax administration. The Directives do not establish Service position on legal issues and are not legal guidance. Market Segment Understandings (MSU) The MSU Program, first introduced in 1993, is a means of enhancing tax compliance while reducing taxpayer burden. This Program envisions that the IRS and taxpayers in particular market segments, work together to improve tax compliance in those areas through educational efforts and other collaborative approaches rather than through traditional audit techniques. Office of Taxpayer Burden Reduction (TBR) As a part of IRS’s effort to reduce burden on taxpayers, the IRS formed the Office of Taxpayer Burden Reduction (TBR) in early 2002. TBR’s mission is to achieve significant burden reduction for taxpayers by coordinating and championing burden reduction throughout IRS. Online Ordering for Information Returns and Employer Returns Order information returns and employer returns online. Research Credit Guidelines and audit technique guide are provided for field examiners on the examination of Research Credit cases. Research Credit Recordkeeping Agreements (RCRA) Signed June 08, 2005, the Internal Revenue Service (IRS) announced the execution of letters of understanding with Toyota Motor North America, Inc. and Subsidiaries, and American Honda Motor Co., Inc. and Subsidiaries, outlining the terms of a Research Credit Recordkeeping Agreement (RCRA). Small Business Products Online Ordering Looking for a tool to help you meet your tax requirements? Choose from our free products, developed especially for the Small Business/Self-Employed person, and obtain updated information on existing products. Order today online or by calling (800) 829-3676. Tax Code, Regulations and Official Guidance The place to start for researching publicly accessible versions of the Internal Revenue Code, Treasury (Tax) Regulations, or other forms of official IRS tax guidance. SEP and SIMPLE IRA Retirement Plan Information on Free CD-ROM Do you have a SEP or SIMPLE IRA plan or have you thought about setting one up? Maybe you're interested in learning more about your traditional or Roth IRA. The IRS has a new CD-ROM containing one-stop information about traditional and Roth IRAs and IRA-based retirement plans. Order yours today! Disaster Assistance and Emergency Relief for Individuals and Businesses Special tax law provisions may help taxpayers and businesses recover financially from the impact of a disaster, especially when the president declares their location to be a major disaster area. Depending on the circumstances, the IRS may grant additional time to file returns and pay taxes. |
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