IRS Under Pressure for Large Corporate Pre-Filing

IRS Under Pressure

In 2011, after a six-year pilot program, the IRS made the Compliance Assurance Process (CAP) a permanent fixture. The intention was to give large corporate taxpayers a pre-filing period where discrepancies or contentious issues could be ironed out to simplify examination after filing. The goal was to provide each side with more confidence in the contents at the time it was officially filed. The problem: CAP agreements are taking a long, long time to settle. You can find the details in a succinct article originally posted by complianceweek.com.