𝐒𝐌𝐀𝐋𝐋 𝐁𝐔𝐒𝐈𝐍𝐄𝐒𝐒/𝐒𝐄𝐋𝐅 𝐄𝐌𝐏𝐋𝐎𝐘𝐄𝐃 (𝐒𝐁/𝐒𝐄) 𝐆𝐑𝐎𝐔𝐏 𝐀𝐔𝐃𝐈𝐓 𝐓𝐀𝐑𝐆𝐄𝐓𝐒 (𝟖/𝟐𝟒/𝟐𝟎𝟐𝟎)

The SB/SE group of the IRS focuses on small businesses and self employed taxpayers. The group’s annual report (Publication 5409 6/2020) details the following audit targets:

• NON-FILERS. Non-filers are one of the three major contributors to the tax gap with an estimated contribution of $39 billion. To remedy the situation, the SB/SE group is focusing resources by forming organizational structures and changing procedures to hone in on non-filers.
• FRAUD. SB/SE is home of the IRS Fraud Program Office, where fraud technical advisors provide fraud policy and operations support to all IRS operations. The office will help develop indicators of fraud into referrals to IRS Criminal Investigation (CI) or recommendations to assert civil fraud penalties.
• VIRTUAL CURRENCY. SB/SE is working with IRS Chief Counsel and other business units to establish a virtual currency team. In 2019, SB/SE Examination began virtual/cryptocurrency audits and Bank Secrecy Act examinations of virtual currency exchanges and kiosk operators while SB/SE Collection began specialized training for subject matter experts.

For more info, see https://www.irs.gov/pub/irs-pdf/p5409.pdf

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𝐓𝐡𝐨𝐦𝐚𝐬 𝐉𝐚𝐦𝐞𝐬 𝐂𝐚𝐫𝐫𝐨𝐥𝐥, 𝐏.𝐂. 𝐢𝐬 𝐚 𝐥𝐚𝐰 𝐟𝐢𝐫𝐦 𝐟𝐨𝐜𝐮𝐬𝐢𝐧𝐠 𝐨𝐧 𝐟𝐞𝐝𝐞𝐫𝐚𝐥 𝐚𝐧𝐝 𝐬𝐭𝐚𝐭𝐞 𝐭𝐚𝐱𝐞𝐬 𝐭𝐡𝐚𝐭 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐬 𝐢𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐰𝐢𝐭𝐡 𝐭𝐚𝐱 𝐡𝐞𝐥𝐩 𝐚𝐧𝐝 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐭𝐨𝐝𝐚𝐲 𝐚𝐧𝐝 𝐭𝐨𝐦𝐨𝐫𝐫𝐨𝐰.

𝐎𝐯𝐞𝐫 𝟑𝟓 𝐘𝐞𝐚𝐫𝐬 𝐨𝐟 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞 𝐢𝐧 𝐈𝐑𝐒, 𝐍𝐘 & 𝐍𝐉 𝐓𝐚𝐱 𝐀𝐮𝐝𝐢𝐭𝐬, 𝐀𝐩𝐩𝐞𝐚𝐥𝐬 & 𝐓𝐚𝐱 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠.

𝐖𝐖𝐖.𝐓𝐉𝐂𝐀𝐑𝐑𝐎𝐋𝐋-𝐋𝐀𝐖.𝐂𝐎𝐌