Jeff Paravano Comments on Future of CAP Program for Corporations

News / August 27, 2018

Partner Jeff Paravano is quoted in an article published Aug. 24, 2018, in Bloomberg’s Daily Tax Report. The article, “CFOs Rest Easier: IRS is Keeping Real-Time Auditing Program,” discusses the future of the Internal Revenue Service’s (IRS) Compliance Assurance Process (CAP) program, which provides corporations with pre-filing certainty that they are in compliance with tax regulations. The IRS had frozen the audit program but recently confirmed that it will continue to operate CAP for companies already participating, but said it is “recalibrating” the program and will release additional guidelines soon.

Paravano told Bloomberg, “My guess is that you will see a less aggressive expansion of the program than existed before the freeze, given the IRS’s apparent preference in recent years to conserve audit resources.”