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Controlled Foregin Corporations

Controlled Foregin Corporations
  • You are an IRS agent and are planning to audit a controlled foreign corporation for potential tax evasion. Suggest audit strategies that address transactions that are most likely to result in tax evasion by a controlled foreign corporation. Support your audit plan with examples. 
  • You are the CPA working for the controlled foreign corporation that is being audited by the IRS for potential tax evasion. Construct a defense against the audit that supports the corporation’s claim that there was no tax evasion. Support your defense with examples.

Please make sure that each bullet points & solutions is together and that the solutions is in great details. Thanks!






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Tax evasion involves the misrepresentation of income by corporations to the IRS for the purpose of avoiding taxes. Organizations aim at the reduction of their tax liabilities. Through IRS, any aggressive behavior is deterred through the use of audit and threat of audit. Audit strategies include the use of strategic uncertainty among the tax payers. Taxpayers are clued-up of the utmost number of audits by a tax authority…


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