IR-2018-174, Aug. 27, 2018
WASHINGTON – Internal Revenue Service officials announced today changes to the Compliance Assurance Process (CAP) program for 2019. CAP is a cooperative pre-filing program for some of the largest taxpayers. To give affected taxpayers more time to assess the proposed changes, the IRS will shift the start of the application period to Oct. 1, 2018 and it will close on November 30, 2018.
The CAP program began in 2005 as a way for resolving tax issues through open, cooperative and transparent interactions between the IRS and taxpayers before the filing of a return. The program began with 17 taxpayers and currently has 169 taxpayer participants.
“After extensive review, we believe this program continues to provide benefit for taxpayers and tax administration,” said Large Business and International (LB&I) Commissioner Doug O'Donnell. “The program is intended to provide taxpayers and IRS certainty on the treatment of certain tax issues even before the return is filed, while reducing the chance of potential disagreement and lengthy examinations.”Read full article