Extortionist IRS Wants Companies to do Their Dirty Work For Free by Announcing Questionable Tax Strategies

WASHINGTON—Large corporations will be required to file a summary of their questionable tax positions to the Internal Revenue Service under a plan announced Tuesday designed to give the agency a road map for preventing tax avoidance.

The plan was outlined by IRS Commissioner Doug Shulman in a speech to the New York State Bar Association. Corporations and some partnerships that are covered by shareholder-transparency rules and have assets over $10 million will be required to file a list of uncertain tax positions along with their tax return, Mr. Shulman said.

Companies are already required to disclose to shareholders most of the information that would be included on the return. But companies have not been required to submit the information directly to the IRS, which might give the agency added insight into the firms' tax strategies.

Mr. Shulman said the new tax-reporting requirement will give the IRS a head start on issues that are likely to surface in the course of an audit.

"It would add efficiency to the process if we had access to more complete information earlier... regarding the nature and materiality of a taxpayer's uncertain tax positions," Mr. Shulman said in prepared remarks released by the IRS.

The required disclosures will include a brief discussion of the uncertain tax position and the amount by which the firm expects to reduce its taxes if the strategy is successful, Mr. Shulman said. The taxpayer will not be required to disclose reserve amounts, or an assessment of risk, he said.

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Fuck you, IRS!

Want my labor? Pay for it!

Pricks!

Extortionist IRS Wants Companies to do Their Dirty Work For Free by Announcing Questionable Tax Strategies

Extortionist IRS Wants Companies to do Their Dirty Work For Free by Announcing Questionable Tax Strategies

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