Partners Sheri Dillon and Jennifer Breen, with associates James G. Steele, III and Eric J. Albers-Fiedler, co-authored a Law360 Expert Analysis discussing the Internal Revenue Service’s (IRS’s) sports industry losses campaign, which is “designed to identify and initiate specialized, issue-based examinations of partnerships operating within the sports industry that report significant tax losses.”
The article explains the IRS’s new focus in this area and provides observations and considerations for those in the sports industry, including how sports industry partnerships and their owners can prepare, noting that “the best defense is a good offense.”