For roughly the last ten years, the internal revenue service has made a fairly major effort to be more taxpayer friendly. The Industry Tax Issue Resolution Program is one such step.
Industry Issue Resolution Program
After years of living in denial, the IRS has come around to admitting tax forms and procedures may be a mess for certain industries. As one IRS agent put it, the agency doesnt actually work in the industries, so it doesnt have a lot of practical knowledge in how things work financially for the businesses on a day-to-day basis.
In a creative move, the IRS created the Industry Issue Resolution Program. This program essentially lets businesses complain to the IRS about burdensome tax issues. The IRS then considers the problem, researches alternatives and tries to come up with new regulations.
One of the better aspects of the programs is the guidance factor. If youve every filled out business taxes, you know there are areas that need serious clarity. You either cant tell what the IRS is asking for or how they want it determined. Using the Industry Issue Resolution Program, businesses can seek clarity regarding many of the mystifying aspects...
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