If you are a small business owner or self-employed and find yourself being audited by the IRS, the Fast Track Settlement or FTS, may be the answer for you.
The IRS SB/SE (Small Business/Self Employed) program allows for most cases that fall under its jurisdiction to be considered for the Fast Track Settlement. It also allows for no dollar limit on the case itself.
The program itself was created to help the relationship between the IRS and the tax payer and will only succeed if all parties go into the process with the common goal of agreeing to a solution. The process allows for tax disputes to be resolved quickly with some business disputes to be solver within 90 days.
THE FTS process is started with both the examiner and the tax payer by filling out a form. The form is then processed by the SB/SE Group Manager. The Manager then decided is the case is eligible and will forward the case on to the local Appeals Manager, along with all necessary paperwork. The Appeals Manager then makes the decision on whether or not to accept the case into the FTS program.
Although representation is not required a tax payer may be represented during this process but the proper paperwork needs to be submitted.
If you are interested in finding out more information in regards to the FTS, please call us today!