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
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