An industry resolution program is a program within the IRS which looks at specific tax issues that are industry specific. There are certain methods of accounting and specific tax issues relating to income and deductions that are treated differently depending on the type of industry you might be in. With an evolving business market and new transactions being formed all the time, it is important to know how those transactions will be handled from a tax perspective. As industry specific transactions are developed over time, there are groups within the IRS that are now assigned to those industries with the purpose of looking at those developments that they see across multiple taxpayers and coming to some conclusions about how to drive consistently in the tax regime across industries. The ultimate goal is that taxpayers who are in similar situations and industries should be accounting for transactions and paying taxes in a similar manner. Those industry resolution programs are designed to ensure the tax system is administered fairly across industry lines.
