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Fast Track Settlement program established for small business and self-employed taxpayers

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In a Revenue Procedure, the IRS has formally created the Small Business/Self Employed (SB/SE) Fast Track Settlement program to provide an expedited format for resolving disputes with SB/SE taxpayers. It can be used to resolve both factual and legal issues, and may be initiated at any time after an issue is fully developed. One of the goals of the program is that the entire process be completed within 60 days after acceptance into the program. (Rev. Proc. 2017-25)

Employers can electronically secure employee consents for FICA tax refunds

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In a Revenue Procedure, the IRS has provided guidance to employers on the requirements for employee consents used to support a claim for the refund of overpaid Federal Insurance Contributions Act (FICA) taxes. It allows employee consents to be requested, furnished and retained in an electronic format as an alternative to a paper format. It also contains guidance concerning what constitutes “reasonable efforts” if an employee consent isn’t secured. (Rev. Proc. 2017-28)