3 Things To Keep In Mind About IRS' Corporate Audit Changes

Partner Ellen McElroy is quoted in Law360 about recent changes to the IRS’ corporate audit process, including the elimination of the acknowledgment of facts procedure and the expansion of the fast track settlement program. Commenting on the use of fast track settlement, Ellen emphasized that the process is most effective only when both sides are prepared to resolve the dispute, noting, “If you have a very unique legal argument, you may not want to disclose that to the other side, and fast track would mean that it’s disclosed — and the genie can never get put back in the bottle.”

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