February 13, 2023
IRS LB&I announces new 'Bridge Plus' pilot phase for CAP program
The IRS has announced (IR-2023-25) changes to the Bridge phase of the Compliance Assurance Process (CAP) program, a cooperative pre-filing program for large corporate taxpayers. The Bridge phase "is reserved for taxpayers whose risk of noncompliance does not support the continued use of IRS compliance resources." Feedback led the IRS to develop "Bridge Plus" as a new pilot phase, available only to CAP participants in the Bridge phase for 2022 that have been recommended to participate 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," the IRS states. A Tax Alert is forthcoming.
Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor