The Various Alternative Ways You can Handle Your IRS Dispute
In case you have a dispute with the IRS, you are probably familiar with the traditional ways of dealing with the particular disputes with the IRS. Nevertheless, you need to be aware of the fact that there are a number of the other alternative ways that you can be able to use to resolve the tax dispute over and above this traditional ways. Take a look at some of these as we have mentioned below.
Mediation is just one of the alternatives that you may have that you can trust to enable you handle the tax issues confronting you and the IRS. As it often goes, mediation is a simple process that will see a mediator broker a deal between two parties in a dispute. Thus in a tax mediation procedure for the resolving of the tax issues, you will have your tax specialist attempting communication and negotiating on both ends so as to ensure that you as the tax payer and the IRS hit a compromise for the settlement of the tax dispute. Your tax mediator will be a good service to you as they will enable you see what strengths and weaknesses that you possess in the case and as well enable you realize your overall objectives. This mediation as an alternative to resolving tax disputes is a suitable alternative since it allows you bypass the all too demanding legal proceedings and court trials.
The other alternative means of settling these tax disputes is through arbitration. This is the process that will basically see you as the parties to the dispute have a team or panel of arbitrators who will hear the case from both sides and then make a ruling or decision as they will judge. Arbitration is so similar to trial and only differ in the sense that it is not as formal. If you opt to have your case resolved by a binding arbitration, then you will have to abide by the decision of the team as their decision will be final. Mark this as one of the most important factors to consider when looking for how you want your case to be heard.
You stand to enjoy lots of benefits from the decision to have settled for arbitration or mediation as your preferred method of having your tax issues resolved. One of the most obvious advantage that one will enjoy will be the fact of the savings in time and money. As a matter of fact, we know that litigation will be such an expensive and time consuming process.