Taxpayers and officials agree change to risk management needed to avoid disputes
17 February 2012
Both taxpayers and officials need to change their approach to tax risk if they are to ensure greater compliance and reduce exposure to tax disputes, the Tax Council Policy Institute‘s annual symposium (TCPI) was told yesterday.
Speakers at the conference in Washington, DC, which had tax risk management as its theme, were exposed to the methods officials are using to handle risk and how the role of the tax director has changed because they are being asked to do more with fewer resources now.
“We [tax officials] need to innovate and get better access to data if we are to better understand the reasons why business take risks,” said Steve Miller, IRS Deputy Commissioner for Services and Enforcement.
“This data will enhance our understanding and create for a better dialogue with taxpayers,”...
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