Washington (April 7, 2003) -- Fast Track Settlement, (FTS), a process for large corporations to settle tax disputes before the audit on their return is complete, is now permanent. Full implementation of the program follows a successful pilot, during which the taxpayer and the IRS reached agreement on 91 percent of the issues. The average time to resolve a dispute was about one-tenth the usual time for a settlement.
The joint program with the Large and Mid-Size Business Division and the Office of Appeals offers a joint process that uses Appeals personnel as mediators in LMSB cases. Based on the Appeals officer’s analysis of the issues, Appeals may also recommend a settlement. Under certain circumstances, other IRS divisions and taxpayers may also participate in the FTS program.
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