In response to the “3rd-Party Pricing Audits Could Be Used To Tip Off Other States” article that was published in Law360 on July 13, 2022, the North Carolina Department of Revenue (NCDOR) would like to clarify its philosophy and practices on the sharing of tax information. Please note:
- NCDOR has not previously and does not currently use Chainbridge as a consulting firm;
- NCDOR does not support the philosophy or practice of using 3rd-party consultants to create audit selection criteria;
- NCDOR does not receive audit leads or “tip offs” from its economic consulting service provider;
- If NCDOR consultants were to provide such tip offs, NCDOR would not accept or use them as a basis for audit; and
- All NCDOR consultants are subject to confidentiality requirements of N.C.G.S. 105-259 and must abide by these rules or face the penalties provided under statute.