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This will be of value to our US readers and our Canadian readers
can look at it and "only wish".
Imagine, getting it worked out in 120 days. I have letters out I
have been waiting for a simple answer for over a year.
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-----Original Message-----
From: IRS-NEWSWIRE [mailto:[email protected]]
Sent: Tuesday, June 03, 2003 12:42 PM
To: IRS News Release Service
Subject: IR-2003-72 -- IRS Issues "Fast Track" Guidance to Help
Taxpayers
IRS Issues "Fast Track" Guidance to Help Taxpayers
IR-2003-72, June 3, 2003
WASHINGTON - The Internal Revenue Service issued guidance today
to make
permanent two programs that allow taxpayers and the IRS to reach
agreement
on tax disputes more quickly. The IRS also announced a pilot
program to
expedite the resolution of Tax Exempt Bond disputes.
In guidance issued today, the IRS:
* Makes permanent the Fast Track Mediation program. This
program gives
small businesses, self-employed taxpayers and the IRS the
opportunity to
mediate disputes through an IRS appeals officer, who acts as a
neutral
party. In this program, most tax disputes are resolved within 40
days
compared to several months though the regular appeal process.
Since June
2002, more than 200 cases have been mediated - with 100 percent
resolution
in more than half of those cases.
* Makes permanent the Fast Track Settlement program. The
program enables
the IRS to resolve tax disputes with large and mid-size
businesses at an
earlier stage - often within a much shorter time than through the
normal
audit and appeal processes. The Fast Track Settlement pilot
program
became available for large and mid-size businesses on November
14, 2001,
with the goal of reaching settlement with taxpayers within 120
days. By
May 31, 2003, IRS and 104 large and mid-size business taxpayers
had
successfully settled through the pilot program, in an average
time of 69
days, just over half of the expected time.
* Creates the pilot Fast Track Mediation program for Tax
Exempt Bonds.
This will allow the IRS and issuers of tax exempt bonds to
expedite the
resolution of cases more quickly than through the standard
appeals
process.
The IRS guidance issued today on these fast track programs is
available on
www.irs.gov and will be published in Internal Revenue Bulletin
2003-25,
dated June 23, 2003.
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