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Get back on the fast track

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in Small Business Tax

 

The IRS has announced that it is extending its "fast-track" resolution program for small businesses for two more years. (IRS Announcement 2008-110
 
This pilot program is now set to expire on Nov. 30, 2010. It enables employers with assets of less than $10 million to quickly resolve disputes with the IRS. Currently, the program is available in Chicago, Houston, Philadelphia, central New Jersey and San Diego, Laguna Niguel and Riverside, California. 

Note: The IRS is rolling out a similar program for tax-exempt nonprofit institutions. The objective is to settle audits within 60 days. If the nonprofit program is successful after a two-year trial, it will become available nationwide.  

 

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