IRS Form 14234 Compliance Assurance Process (CAP) Application

What Is IRS Form 14234?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on September 1, 2019. As of today, no separate filing guidelines for the form are provided by the IRS.

FAQ

Q: What is IRS Form 14234?
A: IRS Form 14234 is the Compliance Assurance Process (CAP) Application form.

Q: What is the Compliance Assurance Process (CAP)?
A: The Compliance Assurance Process (CAP) is a program that allows businesses to proactively work with the IRS to identify and resolve potential compliance issues.

Q: Who can use IRS Form 14234?
A: Businesses that meet certain criteria can use IRS Form 14234 to apply for participation in the Compliance Assurance Process (CAP).

Q: What is the purpose of the CAP application?
A: The purpose of the CAP application is to provide the IRS with information about the business's tax compliance practices and to demonstrate their commitment to cooperative compliance.

Q: What information is required on IRS Form 14234?
A: IRS Form 14234 requires information such as the business's contact details, tax return information, and details about their compliance systems and processes.

Q: Is participation in the CAP program mandatory?
A: Participation in the CAP program is voluntary. Businesses can choose whether or not to apply for participation.

Q: What are the benefits of participating in the CAP program?
A: Participating in the CAP program can provide businesses with increased certainty regarding their tax compliance and may result in a reduced scope of IRS audits.