Discuss the real-time audit process for companies and how the IRS can monetize this program.

Since 2011, the IRS has put into place the Compliance Assurance Process, which provides companies the opportunity to be placed into a real-time audit process. This process allows companies to be constantly audited in real time, rather than being audited two or three years in arrears. Surveys have shown that companies love this program, as it relieves a company of stress from going back and remembering items that have happened in prior years. The IRS is considering removing this program, as budget cuts have caused rethinking of this concept.

Review the Compliance Assurance Process article, and comment on whether you think this would be beneficial for the taxpayer. Discuss how the IRS could monetize this process in order to show that it is a valuable program.