On September 8, 2023, the Internal Revenue Service (IRS) issued a press release that starting in October 2023, the agency will begin mailing compliance letters to partnerships as part of its increasing focus on large partnerships and complex partnership returns. These compliance letters will likely impact partnerships with over $10 million in assets; however, the IRS maintains a broader goal of increasing audit activity and examinations of large partnerships and high-income taxpayers.
Brooke Radford is a tax associate in Baker McKenzie's DC office. She pursued her undergraduate studies at the University of North Carolina Chapel Hill before receiving her J.D. from Howard University School of Law. She now advises clients on a variety of tax controversy matters.