Alan Winston Granwell and Andrea Darling de Cortes (Holland & Knight LLP): IRS Audit Campaign Targets Nonresident Alien U.S. Real Estate Activities (October 8, 2020)

Alan Winston Granwell and Andrea Darling de Cortes, of Holland & Knight LLP, have made available for download their article, “IRS Audit Campaign Targets Nonresident Alien U.S. Real Estate Activities,” published as a Holland & Knight Alert. The abstract is as follows:

In 2017, the IRS Large Business & International Division (LB&I) announced a new audit strategy known as “campaigns” that focused on issue-based rather than entity-based examinations, and focusing on those issues that present a significant risk of noncompliance. The IRS’ objective is to improve return selection through identifying issues representing a risk of noncompliance and making the greatest use of its limited resources. Currently, there are nearly 60 IRS campaigns, several of which relate to high-net-worth individuals cross-border issues.

Click here to view Alan Winston Granwell and Andrea Darling de Cortes’ summary of “IRS Audit Campaign Targets Nonresident Alien U.S. Real Estate Activities.”

Posted by Elise Kim, Managing Associate Editor, Wealth Strategies Journal.

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