IRS Wants Input on Expanding Resolution Programs for Businesses

The IRS has various programs to enable businesses to resolve issues with little or no penalties, including the Voluntary Classification Settlement Program (VCSP) for worker classification and the Employee Plans Compliance Resolution System (EPCRS) for qualified retirement plans. “The IRS is requesting comments and feedback on opportunities to expand and enhance tax certainty and issue resolution across the entire business taxpayer population, whether it’s by enhancing existing programs and tools or developing new ones.” If you have any suggestions, submit them to [email protected] by March 31, 2024. #IdeaoftheDay