IRS Offers Speedier Resolutions for Investigations
If you're being investigated by the IRS, you probably want the process to be over sooner rather than later. The agency announced today it has expanded its "Fast Track Settlement" program (pdf) for taxpayers under examination by its small business and self-employment division.
The program is now available until Sept. 5, 2008 for taxpayers in five new areas: Philadelphia, central New Jersey and California's Laguna Nigel, Riverside and San Diego.
The fast track program initially started in Chicago, Houston and St. Paul, Minn.
The program is designed to expedite case resolution within 60 days of the IRS receiving an application for fast-track consideration.
In other IRS news, the agency announced that payments under the Veterans Affairs Compensated Work Therapy program are no longer taxable. Now, more than 19,000 disabled veterans who paid tax on those benefits in the past three years can claim refunds. The IRS announced Wednesday that it is following a court decision earlier this year which ruled that CWT payments are tax-free veterans' benefits.
The program provides assistance to veterans unable to work and support themselves. Under the program, the Veterans Affairs Department contracts with private industry and the public sector for work by veterans, who refresh their job skills or learn new ones.
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