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IRS LB&I Unveils New Audit Procedures

by Sally P. Schreiber | Feb 26, 2016   ()

The IRS announced it issued Publication 5125, Large Business & International Examination Process (LEP), which outlines a new examination process that will apply beginning May 1, 2016, to all taxpayer examinations undertaken by the IRS Large Business and International (LB&I) division. IRS Publication 5125 will replace IRS Publication 4837, Achieving Quality Examinations Through Effective Planning, Execution and Resolution (QEP). For cases in process as of May 1, the IRS will transition to the LEP process by adopting changes in the execution and resolution phases of an examination. Read More

Source: Journal of Accountancy

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