Daily Tax Update - May 28, 2015: OECD Announces Development of BEPS Multilateral Instrument

OECD Announces Development of BEPS Multilateral Instrument:  The OECD has announced that work on the development of the multilateral instrument to implement the Base Erosion and Profit Shifting Action Plan has begun.  The work is being done by an ad hoc group that includes over 80 countries and will also include international organizations invited to participate in the work as observers. 

TIGTA Finds IRS Identification of Fraudulent Tax Returns is Improving:  The Treasury Inspector General for Tax Administration (TIGTA) released a report finding that the IRS is improving the detection and prevention of identity theft tax return fraud.  However, the report notes that limitations on the timely receipt of certain information and data prevent the IRS from being more effective.