Change is on the way for trucking and other industrial sectors that have to deal with the Internal Revenue Service, but it may not be good news for small operations that usually fail to make a blip on the tax agency’s auditing radar.
As part of its reorganization, the IRS has established the Large and Mid-Size Business Division, designed to help corporations avoid problems before they start and streamline the tax dispute process to ease the burdens on businesses.
Many observers think the new structure should help trucking more than hurt it. They contend that having specially trained auditors will reduce the amount of time spent on an audit, which means trucking companies will have to spend less time dealing with IRS.
Even though the new division focuses on large and medium-size firms, small trucking companies may notice a difference. If IRS auditors spent less time on each investigation, they would be able to look into the ledgers and business practices of more small businesses.
For the full story, see the Sept. 25 print edition of Transport Topics. .
