KPMG report: Comments on expanding tax certainty and issue resolution programs for business taxpayers

Type
:
Obligation
Tax Area
:
Corporate Income Tax
Status
:
Guidance
Qualification
:
Various
Implemented date
:
NA
Country
:
United States
Date added
5 Apr
,
2024
Docxster’s Summary

The KPMG report discusses the importance of expanding tax certainty issue resolution programs for business taxpayers. The report highlights the benefits of these programs, such as reducing compliance costs and increasing taxpayer confidence. It also provides recommendations for governments to improve and expand these programs.

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Article

The IRS in September 2023 requested comments about improving and expanding tax certainty and issue resolution options for business taxpayers. Read TaxNewsFlash

In response to the IRS request for comments, KPMG LLP tax professionals submitted a memo with comments that recommends potential changes to improve the following programs:

  • Compliance assurance process (CAP)
  • Prefiling agreements (PFAs)
  • Voluntary international submissions
  • Pass-through examinations
  • Advance pricing agreements (APAs)
  • U.S. residency certification

 

 

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Source :
KPMG
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