IRS Broadens ‘Fast Track’ Settlement Program

IRS recently announced the opportunity for smaller businesses to take advantage of its “fast track” settlement program, and thus enable them to more quickly settle audit issues with IRS.

The “fast track” settlement program is designed to expedite case resolution by allowing taxpayers under audit to work directly with IRS representatives from the Small Business/Self Employed Examination Division and Appeals to resolve those issues, with the Appeals representative generally serving in a mediator role.

Taxpayers interested in entering this program generally must do so before a 30 day letter is issued.  The goal is to complete cases within 60 days of acceptance of the application.