On October 19, 2020, the U.S. Chamber and 16 other Trade Organizations delivered these comments to the I.R.S. and Treasury regarding Revenue Procedure 94-69, providing special procedures for taxpayers that are subject to the (former) Coordinated Examination Program (“CEP”) to show additional tax due or make disclosures to avoid the imposition of accuracy-related penalties for negligence, disregard of rules or regulations, or substantial understatement of income tax – as requested in the I.R.S. News Release of August 19, 2020.
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