Employers Beware: The IRS Is Ramping Up Employment Tax Enforcement

Posted by Abbey Garber, Mary McNulty, Lee Meyercord, Jessica Morrison, and Neely Munnerlyn

Approximately 72% of all revenue collected by the IRS is from withheld employment taxes.  As a result, the IRS has increased its focus on employment tax audits, recently reporting that there are 530,000 employment tax audits pending.  As explained in our recent client alert, employers should understand the potential consequences of an employment tax audit and take steps to ensure they are properly prepared for an audit.  If you have any questions, please contact the Thompson & Knight attorney with whom you regularly work or one of the authors listed above.