IRS to Open Applications for Corporate Tax Compliance Program

The IRS announced applications for the Compliance Assurance Process program will open Sept. 4.

The program, which started in 2005, intends to help large corporations improve federal tax compliance before they file their tax returns. Private or publicly traded C corporations with more than $10 million in assets can apply. The companies must be in good standing with the IRS, and private corporations will be required to submit audited financial statements.

• The application period ends Oct. 31, and taxpayers will be notified if they’re accepted in February 2025.
• The IRS last year updated a phase of the CAP process after ...