IRS Offers ‘Fast Track’ Settlement

So you’re self-employed and are under IRS audit and getting nowhere with your auditor.

You might consider the IRS’ “fast track” settlement process.  It’s generally available for all cases under the jurisdiction of IRS SB/SE (Small Business/Self Employed) program, and there is no limitation on the dollar amount associated with the issue.

You and your auditor jointly complete an Application for Fast Track Settlement (Form 14017) and the auditor submits it to his or her Group Manager.  If the application is approved (certain issues don’t qualify), you will go before a Fast Track Settlement Appeals Official, schooled in dispute resolution techniques, and whose job it is to find a resolution agreeable to you and IRS, and to find it quickly.

If no resolution can be reached, the taxpayer still retains all of the otherwise applicable appeal rights associated with any audit situation.

Check out IRS Publication 5022 for more details.