Excerpt taken from article.
The Internal Revenue Service has a low-profile but sweeping effort under way to use state land-transfer records for evidence of omissions in reporting gifts of real estate to family members. Beth Shapiro Kaufman, a partner in the private-client group at law firm Caplin & Drysdale in Washington, D.C., said many tax advisers may not be aware of the IRS effort. She added that as the agency gets records from more states, "we can expect additional examinations." Read