Bookmark and Share [ [link removed] ]

a { color:#0073AF !important;} a:hover { color:#004673 !important;}
IRS.gov Banner
IRS Newswire Feb. 13, 2023

News Essentials

What's Hot [ [link removed] ]

News Releases [ [link removed] ]

IRS - The Basics [ [link removed] ]

IRS Guidance [ [link removed] ]

Media Contacts [ [link removed] ]

Facts & Figures [ [link removed] ]

Around The Nation [ [link removed] ]

e-News Subscriptions [ [link removed] ]

________________________________________________________________________

The Newsroom Topics

Multimedia Center [ [link removed] ]

Noticias en Espa?ol [ [link removed] ]

Radio PSAs [ [link removed] ]

Tax Scams [ [link removed] ]

The Tax Gap [ [link removed] ]

Fact Sheets [ [link removed] ]

IRS Tax Tips [ [link removed] ]

Armed Forces [ [link removed] ]

Latest News Home [ [link removed] ]

________________________________________________________________________

IRS Resources

Contact My Local Office [ [link removed] ]

Filing Options [ [link removed] ]

Forms & Instructions [ [link removed] ]

Frequently Asked Questions [ [link removed] ]

News [ [link removed] ]

Taxpayer Advocate [ [link removed] ]

Where to File [ [link removed] ]

IRS Social Media [ [link removed] ]

________________________________________________________________________


Issue Number:? ? IR-2023-25

Inside This Issue

*IRS announces new pilot phase for Compliance Assurance Process program *?

IR-2023-25, Feb. 13, 2023?

WASHINGTON ? The Internal Revenue Service today announced changes to the Bridge phase of the Compliance Assurance Process (CAP) program [ [link removed] ]. CAP is a cooperative pre-filing program for large corporate taxpayers.

The CAP program began in 2005 as a way to resolve tax issues through open, cooperative and transparent interactions between the IRS and taxpayers before the filing of a return.?

The IRS made significant changes to the program in 2019 to improve its operation and to ensure the best use of limited government resources. One outcome of this change was the development of the Bridge phase [ [link removed] ] in CAP, which is reserved for taxpayers whose risk of noncompliance does not support the continued use of IRS compliance resources.??

During the Bridge phase, the IRS will not accept any disclosures, conduct any reviews or provide any assurances. In the three years since its inception, the IRS has received consistent feedback from taxpayers that participation in the Bridge phase deprives them of the most important aspect of CAP ? the review by the IRS.?

Due to this feedback, the IRS has developed a new pilot phase called ?Bridge Plus.? Taxpayers will be required to provide book-to-tax reconciliations, credit utilization and other supporting documentation shortly after their audited financial statement is finalized. An IRS team will risk-assess the documents to determine if the taxpayer is suitable for the Bridge Plus phase.?

Taxpayers accepted into this new phase will be required to submit a draft return 30 days before filing. The IRS team will review the return for consistency with the taxpayer?s prior submission. If the draft return is consistent, the taxpayer will be instructed to file a return. If the filed return is consistent with prior submissions, the taxpayer will be issued a full acceptance letter.?

The pilot will be offered only to CAP participants that were in the Bridge phase for 2022 and have been recommended to participate in Bridge again in 2023. Acceptance into the program will be based on input from multiple IRS Large Business & International practice areas as well as the low-risk determination.?

Consistent with its original purpose, CAP is a voluntary process where eligible taxpayers agree to engage in open, transparent and cooperative relations with the government. The shortened timeline of Bridge Plus is contingent on the framework of timely responses, cooperation and full transparency. The IRS will notify CAP taxpayers if they are eligible to participate in the pilot.

?

Back to Top [ #Fifteenth ]

FaceBook Logo [ [link removed] ]??YouTube Logo [ [link removed] ] ?Instagram Logo [ [link removed] ]? Twitter Logo [ [link removed] ] ?LinkedIn Logo [ [link removed] ]

________________________________________________________________________

Thank you for subscribing to the IRS Newswire, an IRS e-mail service.

If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe [ [link removed] ].

This message was distributed automatically from the mailing list IRS Newswire. *Please Do Not Reply To This Message.*


________________________________________________________________________

Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page [ [link removed] ]. You will need to use your email address to log in. If you have questions or problems with the subscription service, please contact subscriberhelp.govdelivery.com [ [link removed] ].

This service is provided to you at no charge by the Internal Revenue Service (IRS) [ [link removed] ].


body .abe-column-block {min-height: 5px;} ________________________________________________________________________

This email was sent to [email protected] by: Internal Revenue Service (IRS) ? Internal Revenue Service ? 1111 Constitution Ave. N.W. ? Washington DC 20535 GovDelivery logo [ [link removed] ]
body .abe-column-block { min-height: 5px; } table.gd_combo_table img {margin-left:10px; margin-right:10px;} table.gd_combo_table div.govd_image_display img, table.gd_combo_table td.gd_combo_image_cell img {margin-left:0px; margin-right:0px;}