IRS Introduces Fast Track Settlement Nationwide

Kevin Packman & Andrew Weinstein, Miami office

The IRS issued News Release IR-2013-88 on Wednesday, November 6, 2013 announcing the nationwide availability of the Fast Track Settlement Program (the "Program").

The Program, which is designed to help small business under examination resolve their cases in 60 days, as opposed to in months or years, is jointly administered by Appeals and SB/SE. A representative from Appeals will serve as the mediator. An additional benefit of the Program is that if the taxpayer and IRS are unable to resolve the examination, the taxpayer retains the right to appeal. Either the taxpayer or the IRS revenue agent may initiate the Program, but both parties must agree to participate.