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. However there are a number of the other alternatives that you will be able to employ so as to handle your case. Take a look at some of these as we have mentioned below.
Mediation is one of the processes you need to consider. 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. A tax mediator will be a help to you as they will help you have a realization of the strength and weaknesses you have in the case and as well guide you to a good understanding of your objective. Mediation is a great alternative for resolving the tax issues and this is due to the fact that it will not involve the court processes and legal proceedings.
The other alternative you can use for the sake of resolving the 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. Looking at arbitration and trial, they seem similar and the only element that seems to separate them is that fact of the lack of formalism in it. 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. This happens to be one of the most important factors to consider as you settle for the way you will want to have your case heard.
There are benefits that come from the use of either arbitration or mediation for your tax dispute resolutions. One of the most obvious advantage that one will enjoy will be the fact of the savings in time and money. It is more than obvious that when you decide to go for the litigation processes for the resolving of the tax issues you are definitely going to be in for a process that will be really time consuming and as well damn expensive in the long run.