IRS to Fast-Track More Company Advice Memos, Agency Lawyer Says

The IRS plans to double down on a new program fast-tracking private letter rulings, an agency official said Monday at a virtual conference hosted by the American Bar Association’s tax section, building off of a revenue procedure released over the summer.

“We are looking to significantly broaden the scope of the PLR program,” said Mark Schneider, IRS associate chief counsel (corporate).

• The agency released guidance July 26 to establish a permanent process for taxpayers to request expedited service for some PLRs under the jurisdiction of the IRS associate chief counsel (corporate) if they submit certain information laid out in ...