Article Categories
» Arts & Entertainment
» Automotive
» Business
» Careers & Jobs
» Education & Reference
» Finance
» Food & Drink
» Health & Fitness
» Home & Family
» Internet & Online Businesses
» Miscellaneous
» Self Improvement
» Shopping
» Society & News
» Sports & Recreation
» Technology
» Travel & Leisure
» Writing & Speaking

  Listed Article

  Category: Articles » Finance » Taxes » Article
 

IRS Fast Track Settlement Program For Businesses




By Richard A. Chapo

The tax code is insanely complex. If you are a business having a dispute with the IRS, the fast track settlement program may present you with an option for resolving it quickly.

IRS Fast Track Settlement Program For Businesses

Whether an audit or general dispute, dueling with the IRS is expensive and no fun. The expense often arises not from the dispute itself, but from the length of time it takes to resolve it. Simply put, the IRS tends to move slowly when dealing with these issues. For businesses, this means the dispute hangs over you for years with all the accompanying stress and professional expenses you would expect.

The IRS has made an attempt to address this issue through the Fast Track Settlement program. Fast Track is an alternative dispute resolution service approved and arranged by the IRS. The goal of the program is to provide resolutions to issues through a dispute administrator while cutting out the bureaucracy of the agency. From the IRS side of the equation, Fast Track represents a quicker and more efficient method for dealing with disputes, a necessity given budget cutbacks.

The Large and Mid-Sized Business Management and Office of Appeals divisions of the IRS manage the Fast Track program jointly. The program is available for businesses in a dispute with the business management division. It is designed to take place and reach a resolution in 120 days, a very fast pace for tax matters. The process is voluntary. For any decision to be binding on the business and IRS, both parties must agree to a final resolution. In this sense, the process does not replace a trial since the matter is not a final decision unless both parties agree. Ostensibly, the process is designed to address the arguments of both parties and enlighten one or the other to weaknesses in their argument and a like resolution.

Nearly all disputes are available for the Fast Track system. The IRS must approve the use of the dispute, but typically does so. To facilitate your entry into the program, you are required to supply a written statement detailing all of your specific arguments regarding the dispute. Given the fact you have probably already done so at the outset of the dispute, this should not prove to difficult.
 
 
About the Author
Richard A. Chapo is with http://www.businesstaxrecovery.com - information on taxes.


Article Source: http://www.simplysearch4it.com/article/36156.html
 
If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/36156.html" as shown above and make it hyperlinked.



  Some other articles by Richard A. Chapo
Toyota Hybrids and Tax Credits Buy Before October 1st
Toyota hybrids were the first on the market and have received boosts from tremendous tax credits that go along with their purchase. Those credits, however, are being reduced on October 1st. Toyota Hybrids and Tax ...

IRS Sets Telephone Tax Refund Amounts
In a recent decision, a federal court overturned a telephone tax that has been charged for years. Given the result, the IRS has decided to issue refunds for past collected taxes. IRS Sets Telephone Tax ...

  
  Recent Articles
Florida Property Tax News: Property Tax Reform Committee Proceedings
by Daniel A. Weiss

Easy bookkeeping, accounts, tax for small businesses
by John Harriyott

March 1st is Florida's Filing Deadline For Agricultural Classification and Charitable, Religious and Educational Exemptions!
by Daniel A. Weiss

Tax preparation: Should You File Or Pay A Professional?
by Kenneth L Myers

Tax return online is a hassle free way of calculating taxes
by Michelle Barkley

Filing Your Tax Return.
by Kenneth L Myers

Tax Return Forms
by Lukas Wade

Tax return online can ease your tax calculation work
by Michelle Barkley

Saving For Retirement: Make the Maximum Contribution to Your Retirement Plan & Retire Secure
by James Lange

IRA & Retirement Planning Mistakes: Don't Fall Victim to Bad IRA and Retirement Plan Advice
by James Lange

Tax Return Online Helps You Calculate Your Tax Returns Promptly
by Michelle Barkley

Can I avoid sales tax on my aircraft by registering it in a Delaware Corporation?
by Thomas A. Alston

Important Tax Lien Tips For Your Investments
by Dalvin Rumsey

Tax Return Outsourcing Will Give You Peace of Mind!
by Michelle Barkley

IRS Sets Telephone Tax Refund Amounts
by Richard A. Chapo

IRS Fast Track Settlement Program For Businesses
by Richard A. Chapo