PRE-FILING AGREEMENTS catch on slowly.

PRE-FILING AGREEMENTS catch on slowly.

April 01, 2002
PRE-FILING AGREEMENTS catch on slowly.

The IRS launched a new program in January 2001 under which a large or medium-sized company can essentially trigger a tax audit of a transaction before filing its tax return.  This is called entering into a “pre-filing agreement.” Larry Langdon, head of the large and mid-size business division of the IRS, said the agency had received 29 applications under the program by early March, accepted 19, and worked out agreements in six of the cases.

Keith Martin