IRS Specializes to Help Financial Services, Health Care Industry

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

    WASHINGTON, June 6 /PRNewswire/ -- As part of the Internal Revenue Service
 reorganization, the agency has created a new section to work with the
 financial services and health-care industries.
     The IRS's new Large and Mid-Size Business Division (LMSB) will have a
 special industry section devoted Financial Services and Healthcare.  This
 section, headquartered in Manhattan, will serve 5,000 large businesses and
 41,600 mid-sized businesses.
     This sector includes commercial banking, savings and loans, securities and
 other financial services, health care and insurance.
     "These industries face a whirlwind of growth and change, which gives rise
 to a complex set of tax issues.  The new IRS structure will allow us to build
 a more specialized, responsive approach to these industries.  This will help
 us build greater expertise and improve service for these businesses," Industry
 Director David Robison said Tuesday.
     Like the rest of LMSB, Financial Services and Healthcare will embrace an
 innovative approach to resolve taxpayer issues earlier and streamline the tax
 dispute process to ease burdens on business, Robison said.  The organization
 will also assist taxpayers with pre-filing services to help avoid tax
     This combination of factors should help reduce the cost and duration of
 IRS examinations, Robison said.
     Financial Services and Healthcare will be headed by Robison, formerly the
 IRS Assistant District Director in Manhattan.  Robison began his career with
 the IRS in 1974 and held several high-level positions in the examination
 function before completing the Executive Development Program in 1997.
     Reporting to Robison will be three field directors in Manhattan, Chicago
 and Southern California.  Financial Services and Healthcare workers will be
 based from coast-to-coast.
     Besides Financial Services and Healthcare, LMSB will be divided into four
 other special industry segments.  In all, LMSB will serve 210,000 corporations
 and partnerships with at least $5 million in assets.
     The change is part of a sweeping IRS reorganization to transform the
 agency from a geographic-based organization to a customer-focused agency built
 around the specialized needs of taxpayers.
     In all, the IRS will create four Divisions, each dedicated to serving a
 specific group of taxpayers.  Besides LMSB, the IRS will be divided between
 the Tax Exempt and Government Entities Division; the Small Business and Self-
 Employed Division; and the Wage and Investment Division serving individual

SOURCE Internal Revenue Service