27 03 2017

IRS To Provide Expedited Audit Mediation For Small Businesses

The Internal Revenue Service (IRS) has released a new revenue procedure that creates a fast-tracked method for small businesses and self employed persons to engage with the IRS to resolve disputes.

Revenue procedure 2017-25 outlines the requirements and procedures for the small businesses and self employed Fast Track Settlement program (SB/SE FTS).

The program is available nationwide to businesses and self-employed individuals with assets of no more than USD10m and is intended to support the resolution of audit issues within 60 days.

Alternative dispute resolution techniques are used. An appeals officer trained in mediation (an FTS Appeals Official) will serve as a neutral party, acting as a mediator.

SB/SE FTS can be used to resolve both factual and legal issues, and may be initiated at any time after an issue is fully developed.