Sharing More With the IRS


The Supreme Court's decision last week to let stand a lower court ruling that the Internal Revenue Service has the authority to demand to see a company's tax work papers has increased concerns that the IRS will become more aggressive about requesting such documents.

The case involved an IRS request that Textron, the Providence, R.I.-based aerospace and defense supplier, give the agency access to papers, including a tax reserve summary spreadsheet, that related to lease-back deals and had been prepared by the company's in-house counsel. The First Circuit Court of Appeals ruled last year that the IRS should have access, triggering Textron's appeal to the Supreme Court.

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