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The IRS’s Large Business and International division in January announced the identification and selection of 13 ‘‘campaigns.’’ The overall purpose of this effort, as described by the announcement, is to focus future efforts on issue-based examination in order to achieve compliance objectives. These specific issues are identified based on a risk approach—in other words, LB&I believes they represent the highest risk of noncompliance.
With limited resources, the IRS seemingly would focus on specific issues as a first wave of campaign topics that will help the IRS select returns to audit. Much has been written about the LB&I campaigns. This article discusses these matters through the lens of transfer pricing.