The Internal Revenue Service (IRS) announced its formal establishment of the Small Business/Self-Employed Fast Track Settlement Program (SB/SE FTS) to provide an expedited format for resolving disputes with Small Business/Self-Employed taxpayers. Fast Track Settlement offers Small Business/Self-Employed taxpayers an opportunity to resolve tax disputes at the earliest possible stage in the examination process. Once the taxpayer's application is accepted, the goal of the program is to provide a resolution within 60 days. The recently formalized program includes changes from those described in IRS Announcement 2011-5, such as (1) the availability to taxpayers nationwide, (2) not being available for cases under the jurisdiction of the Tax Exempt and Government Entities (TE/GE) Division, and (3) modification of the case eligibility criteria. The new format is effective on March 20, 2017, and supersedes IRS Announcement 2011-5.
There are no comments for this post. Be the first and Add your Comment below.
Leave a Comment