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September 20, 2023
2023-1573

IRS announces new LB&I work group that will focus on large or complex passthrough entities

The IRS announced (IR-2023-176) that it is establishing a new work group that will focus on large or complex pass-through entities, such as partnerships and S Corporations. This new unit will be part of the IRS Large Business and International (LB&I) division and include some of the new hires from the IRS's recently-announced hiring initiative that is part of its new enforcement efforts (see Tax Alert 2023-1512). According to LB&I Commissioner Holly Paz, the new work group is expected to "formally 'stand up'" late next year, although work in the area of pass-through entities will "intensify" in the meantime.

Published by NTD's Tax Technical Knowledge Services group; Andrea Ben-Yosef, legal editor

 

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