May 27 2019

Interim guidance issued on Large Corporate Compliance (LCC) program

Source: IBFD Tax Research Platform News

The US Treasury Department and the US Internal Revenue Service (IRS) released a Memorandum with interim guidance on the implementation of the Large Corporate Compliance (LCC) program.

The Memorandum is dated 21 May 2019 and bears a Control Number of LB&I-04-0419-004.

The Memorandum was issued to communicate changes in the administrative process for the selection and delivery of large corporate tax returns to employees of the IRS's Large Business and International Division (LB&I).

Effective with the issuance of the Memorandum, the LCC program will supersede the Coordinated Industry Case (CIC) program within LB&I for the selection of large corporate cases. Beginning with the 2017 tax year, returns that meet the LCC criteria will be included in the LCC audit selection process (see United States-1, News 17 May 2019).

The Memorandum is effective on 21 May 2019, and will expire on 20 May 2021.