I read a recent news article discussing this new settlement option that the IRS is now offering. Just like with many other programs that are heavily advertised by many competitors, a “new” program to resolve IRS issues does not always mean they are brand new.
The fast track settlement program is new appeal right that taxpayers can now take advantage of after going through an audit. If you disagree with the results of the audit, you first have to have a meeting with the auditor’s manager. If the manager is also unwilling to change the audit results you can then appeal the audit results. Before this new program, an audit appeal could take many months before a final result and decision is passed down. But under this new program, you can request a fast track appeal which goes through mediation as opposed to tax court or the normal appeal examiners. The fast track mediation promises a decision to your audit appeal within 60 days.
The fast track mediation does not necessarily mean any additional benefit to a taxpayer who is appealing an audit aside from a faster result. To request a mediation, use IRS form 14017, which can be found on the IRS website at www.irs.gov.
There are many debt resolution companies that love to advertise about the new IRS programs that are designed to give taxpayers great results. The truth of the matter is that most of these “new” programs are simply changes to already existing programs; such as a faster turn-around time with audit appeals. Be wary of those that promise brand new IRS programs that will only exist for a short amount of time as most of these promises are either untruthful or ill-informed.
In any event, it is nice to see the IRS stream-lining their dispute resolutions regardless of whether it is an audit appeal process or a payment plan process. Hopefully they will continue make these changes to their existing programs in a consistent attempt to make the government more efficient.
We can help answer your tax questions. Give Steidl and Steinberg a call at 800-360-9392 with any tax questions or concerns that you may have.