IRS to Continue Modified Fast-Track Program for Private Rulings

The IRS said it will adopt an ongoing program to fast-track some private letter rulings, or PLRs, continuing a just-expired pilot with a couple of modifications.

Under the new program, which the IRS announced Wednesday (Rev. Proc. 2023-26), taxpayers can request expedited service for their PLRs under the jurisdiction of the IRS Associate Chief Counsel (Corporate) if they submit certain information, such as the reason for their request and the review time they’re requesting if it’s other than the standard 12-week review period. PLRs are requests for individual guidance from the IRS on a taxpayer’s specific tax situation. ...