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IRS Announces Adjustments to the Compliance Assurance Process (CAP) Program

August 27, 2018 Internal Revenue Service officials have announced changes to the Compliance Assurance Process (CAP) program for 2019. CAP is a cooperative pre-filing program for some of the largest taxpayers. To give affected taxpayers more time to assess the proposed changes, the IRS will shift the start of the application period to Oct. 1, 2018 and it will close on November 30, 2018.

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IRS Issues Proposed Section 199A Regulations

August 8, 2018 The Internal Revenue Service issued proposed regulations for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income.

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