The IRS has identified actions it will take to decrease the time involved in large business and international audits by making the process more customer-driven, increasing consistency and efficiency.
The IRS is going to phase out the “Acknowledgement of Facts” Information Document Request process by the end of the year. The IRS will also expand the use of Accelerated Issue Resolution to large corporate cases, applying resolved issues across all filed returns in the audit cycle.
Additionally, the IRS will have another layer of review before rejecting a Fast Track Settlement Offer.
To read more about the guidance the IRS issued, click here.
