The Internal Revenue Service knows that small businesses being audited by the IRS would rather not spend months or years resolving their tax issues.

Enter the IRS’ new Fast Track Settlement (FTS) program, designed to help small businesses and self-employed workers more rapidly settle disagreements with the IRS when under examination by the Small Business/Self Employed Division of the IRS.

Intended to reconcile audit issues typically within 60 days, the FTS program – fashioned after a comparable program previously available to larger companies with more than $10 million in assets – makes use of dispute resolution methods to avoid time-consuming administrative appeals or legal proceedings.

Small businesses and self-employed individuals participating in the FTS program work directly with IRS representatives to resolve issues, with a representative of the IRS Appeals office usually serving as mediator. Taxpayers who select the FTS alternative would also still be able to appeal if the process proves ineffective.

For more information, go to www.irs.gov/Individuals/Alternative-Dispute-Resolution.