Large partnerships : growth trends and IRS challenges /
Large partnerships : growth trends and IRS challenges /
Francis E. Stephens, editor.
- New York : Novinka, (c)2015.
- 1 online resource.
- Business issues, competition and entrepreneurship .
Minimal Level Cataloging Plus.
Includes bibliographical references.
LARGE PARTNERSHIPS: GROWTH TRENDS AND IRS CHALLENGES; LARGE PARTNERSHIPS: GROWTH TRENDS AND IRS CHALLENGES; Library of Congress Cataloging-in-Publication Data; CONTENTS; PREFACE; Chapter 1: LARGE PARTNERSHIPS: WITH GROWING NUMBER OF PARTNERSHIPS, IRS NEEDS TO IMPROVE AUDIT EFFICIENCY; WHY GAO DID THIS STUDY; WHAT GAO RECOMMENDS; WHAT GAO FOUND; ABBREVIATIONS; BACKGROUND; LARGE PARTNERSHIPS HAVE GROWN IN NUMBER, SIZE, AND COMPLEXITY SINCE 2002; IRS AUDITS FEW LARGE PARTNERSHIPS DUE TO CHALLENGES PRESENTED BY THE COMPLEXITY OF BOTH THE PARTNERSHIP STRUCTURES AND AUDIT PROCEDURES. IRS HAS INITIATED EFFORTS THAT MAY ADDRESS SOME LARGE PARTNERSHIP AUDIT CHALLENGES BUT THEIR POTENTIAL TO HAVE SIGNIFICANT IMPACT IS UNCLEARCONCLUSION; MATTERS FOR CONGRESSIONAL CONSIDERATION; RECOMMENDATIONS FOR EXECUTIVE ACTION; AGENCY COMMENTS AND OUR EVALUATION; APPENDIX I: OBJECTIVES, SCOPE, AND METHODOLOGY; APPENDIX II: ADDITIONAL DATA ON NUMBER AND CHARACTERISTICS OF LARGE PARTNERSHIPS; APPENDIX III: DATA ON AUDITS OF LARGE PARTNERSHIPS AND LARGE CORPORATE RETURNS; Chapter 2: LARGE PARTNERSHIPS: CHARACTERISTICS OF POPULATION AND IRS AUDITS; AGENCY COMMENTS. ENCLOSURE I: NUMBER AND CHARACTERISTICS OF LARGE PARTNERSHIP RETURNSENCLOSURE II: NUMBER OF IRS AUDITS OF LARGE PARTNERSHIP RETURNS AND THE CHARACTERISTICSOF THOSE AUDITS; Blank Page; INDEX.
The number of large partnerships has more than tripled to 10,099 from tax year 2002 to 2011. Almost two-thirds of large partnerships had more than 1,000 direct and indirect partners, had six or more tiers and/or self reported being in the finance and insurance sector, with many being investment funds. The Internal Revenue Service (IRS) audits few large partnerships. Most audits resulted in no change to the partnership's return and the aggregate change was small. Although internal control standards call for information about effective resource use, IRS has not defined what constitutes a large pages.
9781634637534
2020678477
United States. Internal Revenue Service --Rules and practice.
Business enterprises--Auditing.--United States
Electronic Books.
HF5616 / .L374 2015
Minimal Level Cataloging Plus.
Includes bibliographical references.
LARGE PARTNERSHIPS: GROWTH TRENDS AND IRS CHALLENGES; LARGE PARTNERSHIPS: GROWTH TRENDS AND IRS CHALLENGES; Library of Congress Cataloging-in-Publication Data; CONTENTS; PREFACE; Chapter 1: LARGE PARTNERSHIPS: WITH GROWING NUMBER OF PARTNERSHIPS, IRS NEEDS TO IMPROVE AUDIT EFFICIENCY; WHY GAO DID THIS STUDY; WHAT GAO RECOMMENDS; WHAT GAO FOUND; ABBREVIATIONS; BACKGROUND; LARGE PARTNERSHIPS HAVE GROWN IN NUMBER, SIZE, AND COMPLEXITY SINCE 2002; IRS AUDITS FEW LARGE PARTNERSHIPS DUE TO CHALLENGES PRESENTED BY THE COMPLEXITY OF BOTH THE PARTNERSHIP STRUCTURES AND AUDIT PROCEDURES. IRS HAS INITIATED EFFORTS THAT MAY ADDRESS SOME LARGE PARTNERSHIP AUDIT CHALLENGES BUT THEIR POTENTIAL TO HAVE SIGNIFICANT IMPACT IS UNCLEARCONCLUSION; MATTERS FOR CONGRESSIONAL CONSIDERATION; RECOMMENDATIONS FOR EXECUTIVE ACTION; AGENCY COMMENTS AND OUR EVALUATION; APPENDIX I: OBJECTIVES, SCOPE, AND METHODOLOGY; APPENDIX II: ADDITIONAL DATA ON NUMBER AND CHARACTERISTICS OF LARGE PARTNERSHIPS; APPENDIX III: DATA ON AUDITS OF LARGE PARTNERSHIPS AND LARGE CORPORATE RETURNS; Chapter 2: LARGE PARTNERSHIPS: CHARACTERISTICS OF POPULATION AND IRS AUDITS; AGENCY COMMENTS. ENCLOSURE I: NUMBER AND CHARACTERISTICS OF LARGE PARTNERSHIP RETURNSENCLOSURE II: NUMBER OF IRS AUDITS OF LARGE PARTNERSHIP RETURNS AND THE CHARACTERISTICSOF THOSE AUDITS; Blank Page; INDEX.
The number of large partnerships has more than tripled to 10,099 from tax year 2002 to 2011. Almost two-thirds of large partnerships had more than 1,000 direct and indirect partners, had six or more tiers and/or self reported being in the finance and insurance sector, with many being investment funds. The Internal Revenue Service (IRS) audits few large partnerships. Most audits resulted in no change to the partnership's return and the aggregate change was small. Although internal control standards call for information about effective resource use, IRS has not defined what constitutes a large pages.
9781634637534
2020678477
United States. Internal Revenue Service --Rules and practice.
Business enterprises--Auditing.--United States
Electronic Books.
HF5616 / .L374 2015