The U.S. IRS issued highlights and updates for the Compliance Assurance Process (CAP) on 23 August 2021, including that it is accepting applications for the 2022 CAP year along with a continuation of the temporary modification to the open return eligibility criteria. CAP was developed by the Large Business and International (LB&I) Division to improve the federal tax compliance of large corporate taxpayers by employing real-time issue resolution tools and techniques. In CAP, the IRS and taxpayers work together to achieve tax compliance by resolving issues prior to the filing of the tax return. A taxpayer interested in applying for...