IRS Fast Track Settlement Program

Yesterday, November 6, 2013, the IRS expanded nationwide, its streamlined Fast Track Settlement program (FTS), which aims to help small businesses and self-employed individuals under audit settle their differences with the IRS over their tax debts more quickly. The Fast Track Settlement program is designed to help small businesses and self-employed individuals who are under examination by the IRS.

The FTS program uses alternative dispute resolution techniques to help taxpayers save time and avoid a formal administrative appeal or lengthy litigation. As a result, your New York Tax Lawyer can resolve audit issues within 60 days, rather than months or years that it otherwise may take. Taxpayers nonetheless retain all of their rights to appeal even if they take advantage of the FTS program and they are not pleased with the outcome.

Because the FTS program is jointly administered by Small Business/Self-Employed Division and the IRS Appeals Office, your New York Tax Lawyers working on your audit can work directly with IRS representatives from SB/SE’s Examination Division and Appeals to resolve those issues, with the Appeals representative typically serving as mediator.

Either your New York Tax Lawyer or the IRS may initiate Fast Track for eligible cases, usually before a 30-day letter is issued. The goal is to complete cases within 60 days of acceptance of the application in Appeals.

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