Here’s some good news about bad news (tax audits).
The IRS has finally decided to roll-out a streamlined program to help small business
and the self-employed under audit, to more quickly settle differences with the IRS.
This announcement comes seven long years after an initial pilot test was launched.
FASTER AUDIT PROCESS FOR SMALL-BUSINESS & SELF-EMPLOYED
The Fast Track Settlement (FTS) program uses “alternative dispute resolution” to help taxpayers save time and avoid a formal administrative Appeal or a lengthy Tax Court
process. The IRS estimates that audit issues will usually be resolved within 60 days,
rather than months or years, as it is now.
HERE’S HOW IT WILL WORK…
Under FTS, taxpayers under audit who have issues in dispute, work directly with both an Auditor AND a representative of the Appeals Division at the same time, with the Appeals
rep serving as mediator. Either the taxpayer or the IRS may initiate the Fast Track process. Choosing this option does NOT cause you to forfeit ANY of your rights to Appeal an
Audit or to take it to Tax Court.
Detailed information is on the IRS website at