If so, the IRS Fresh Start program for individual taxpayers and small businesses can help. The program was designed to give first-time tax offenders an opportunity to fix things. It allows taxpayers to pay off their tax debts over six years through monthly payments that are decided based on what they currently earn and the value of their liquid assets. Most of the time, they eventually settle all of their outstanding dues within 6 years.
The Fresh Start program will provide substantial relief to thousands of delinquent taxpayers struggling to catch up on their tax debt. Eliminating tax levies under the provisions of this program can help many taxpayers keep or get jobs that allow them to pay their balances in full. For more information, visit the IRS Fresh Start program site. The IRS's new Fresh Start initiative helps taxpayers who owe taxes.
The IRS Fresh Start initiative expanded several programs to help taxpayers struggling with unpaid tax debts. The Fresh Start program ultimately aims to ease the burden on responsible taxpayers who are proactively taking the necessary steps to settle their tax debt. To maintain the Fresh Start installment agreement, taxpayers must continue to comply with taxes. That is, once again, the Fresh Start Program helps them to pay off their tax debt in an affordable way, without the risk of going into debt.
The Fresh Start provisions give more taxpayers the ability to use simplified payment arrangements to catch up on back taxes and also more time to pay. You should consider learning more about the Fresh Start Program if you're a taxpayer with an enormous burden of tax debt that you can't pay off right away. However, the complexity of the IRS Fresh Start initiative means that you have a lot to gain if you work with a tax professional to explore what's available to you. The Fresh Start program contains several measures designed to streamline the collection process and make it easier for more taxpayers to organize the payment of their unpaid taxes.
Next, we'll discuss the details of your situation with you to identify which Fresh Start tax program option is most appropriate. The IRS requires that you be up to date with all of your tax returns before you are considered for the Fresh Start program. You may think that the IRS's Fresh Start initiative sounds like a great idea, but you also may not be sure if you qualify for any type of tax relief. If you don't want to enroll online, you can always make a proposal for the IRS Fresh Start Program by filling out and submitting an IRS Form 9465 that is available from the IRS government.
You also need to submit all future returns promptly in order to enroll in the Fresh Start Program. In general, the Fresh Start program is good for those who can afford the monthly payment amount and are looking to improve or maintain their credit.