October 12, 2023

New IRS Unit Targeting Partnerships Will Test Tax Laws

Bloomberg Tax's Talking Tax Podcast

Tax Controversy and Litigation attorney Mary McNulty joined an episode of Bloomberg Tax's Talking Tax podcast to discuss how and why the Internal Revenue Service's (IRS) new unit to tackle pass-through entity tax law enforcement could take years to stand up fully and for businesses to feel its impact in the form of tougher audits. In the episode, Ms. McNulty spoke about the purpose of the new unit and what it needs to do in order to be successful. 

"The wild card here is funding...So if Congress continues to cut the $80 billion of additional funding to the IRS and reduces the resources again to low levels then the IRS will lack the resources to carry out this strategic initiative, so time will tell," Ms. McNulty said. 

Duration: 12:00

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