IRS Chided for Failing to Track All Comments on Book Tax Notices

The IRS failed to track and consider all comments on corporate alternative minimum tax guidance notices and lacked necessary written procedures, a Treasury Department watchdog found in a new report issued Thursday, the same day Treasury released proposed rules on the tax.

The Treasury Inspector General for Tax Administration report analyzed comments received from the first two CAMT notices and found that the IRS wasn’t always tracking all of those comments and that “Chief Counsel’s consideration of the comments was not documented until TIGTA requested them,” the watchdog said.

TIGTA recommended that the Office of Chief Counsel establish a written ...