Officials from the Internal Revenue Service announced on Tuesday that the agency is attempting to advance its proposed ‘pre-file conference’ program for taxpayers facing regular audits.
The program is aimed at entities which are, to all intents and purposes, under almost permanent audit, and is designed to allow firms to work more closely with the authorities and address any issues and questions that may arise before the audit is completed.
According to Steven Musher, the IRS's deputy associate chief counsel, the program is still in a state of development, although he revealed during a panel discussion sponsored by the Institute of International Bankers that the program is on a “very soon” track.
In addition, Musher revealed that the IRS and the Treasury Department are planning to iron out a number of outstanding international taxation issues. He then went on to reveal that he has been in discussions with the Treasury’s international tax counsel, Barbara Angus, regarding changes to transfer pricing rules in relation to services and intangibles.
Ms Angus recently announced that the government wishes to improve the administration, documentation and penalty system, so that the rules lead to “appropriate results” for international transactions.
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