Application period for the 2025 Compliance Assurance Process (CAP) program, which will run from Sept. 4 to Oct. 31, 2024, is open, the IRS announced. The IRS will inform applicants if they’re accepted into the program in Feb. 2025, the IRS noted. Launched in 2005, CAP employs real-time issue resolution through transparent and cooperative interaction between taxpayers and the IRS to improve federal tax compliance by resolving issues prior to the filing of a tax return, the IRS stated. [IR-2024-211 (Aug. 15, 2024)]
This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.
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