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IRS issues second IDD on domestic production deduction.(industry director directive)
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The Tax Adviser
- Article date:
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January 1, 2008
- Author:
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Copyright informationCOPYRIGHT 2008 American Institute of CPA's. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The IRS has issued a follow-up directive to the industry director directive (IDD) issued on December 6, 2006 (LMSB-04-1206-018), on the Sec. 199 domestic production deduction (DPD) (LMSB-04-0707-049).The DPD is a designated Tier I issue and as such must be identified, developed, and resolved in a consistent manner across all IRS Large and Mid-Size Business cases involving similarly situated taxpayers. The IRS believes that the DPD collectively represents significant tax dollars, and early indications suggest that taxpayers have inconsistently applied the rules promulgated under Sec. 199.The intent of the follow-up IDD is to describe controls being placed on the review of larger ...
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