IRS Issues Internal Directive on Best Practices For Revenue Agents To Follow When Preparing Information Document Requests: IRS Acting Commissioner of the IRS Large Business and International Division Revises Best-Practice Requirements for Revenue Agents Who Issue Information Document Requests After June 30, 2013

Sullivan & Cromwell LLP - June 20, 2013

The Acting Commissioner of the Large Business and International Division (“LBI”) at the IRS issued a directive (the “Directive”) on June 18 to revenue agents responsible for audits conducted by LBI. LBI oversees corporations and partnerships with assets in excess of $10 million, as well as certain high net-worth individuals. The Directive states that it is intended to make the information document request (“IDR”) process more focused and to conform to training reinforcing best practices for information gathering that all LBI personnel recently received.