IRS Devotes Resources to Help the Communications, Technology and Media Sectors

Jun 06, 2000, 01:00 ET from Internal Revenue Service

    WASHINGTON, June 6 /PRNewswire/ -- In its continuing effort to be
 responsive to the needs of taxpayers, the Internal Revenue Service has created
 an industry section to address the special tax concerns of businesses in the
 information technology, media and entertainment sectors.
     The Communications, Technology and Media section will be one of five
 special industry segments in the IRS's new Large and Mid-Size Business
 Division (LMSB). This special industry will be headquartered in the San
 Francisco Bay Area and will be responsible for approximately 500 large
 businesses and 13,600 mid-sized businesses.
     This sector represents the fields of telecommunications, software and
 hardware development, broadcasting, publishing, sports franchises, hotels,
 gaming and other entertainment and recreational services.
     Like the rest of LMSB, the Communications, Technology and Media section
 will embrace an innovative approach to resolve taxpayer issues earlier and
 streamline the tax dispute process to ease burdens on business. The
 organization will also assist taxpayers with pre-filing services to help avoid
 tax disputes.
     This combination of factors should help reduce the cost and duration of
 IRS examinations, Industry Director Thomas W. Wilson, Jr., said.
     Wilson, a 33-year veteran at the IRS, recently served as the Assistant
 Commissioner, Examination, for which he was responsible for planning, guiding
 and evaluating all examination programs nationwide. Wilson, who began his
 career as a revenue agent, has held a variety of positions, including National
 Director of Corporate Examinations.
     "Communications, Technology, and Media represent the industries of the
 future. These businesses, with their worldwide connections, are the fastest
 growing of all the industries. The fast-paced changes in their business
 environment dictate a different set of tax needs," Wilson said. "We will meet
 the needs of this industry by working closely with them for early resolution
 of tax issues."
     Reporting to Wilson will be two field directors in Northern California and
 Manhattan. A specialized workforce of 900 highly skilled IRS employees
 nationwide will support the Communications, Technology and Media segment.
     The other four special industry segments in LMSB are Retailers, Food and
 Pharmaceuticals; Financial Services and Healthcare; Natural Resources; and
 Heavy Manufacturing, Construction and Transportation. Combined, all five
 industry segments of LMSB will develop and apply innovative approaches to
 customer service and compliance for nearly 210,000 corporations and
 partnerships with at least $5 million in assets.

SOURCE Internal Revenue Service