An installment agreement is a payment plan offered through the Fresh Start program. It allows taxpayers to pay an agreed amount each month to the IRS. These payments go directly to the taxpayer's total tax debt and continue until the debt is paid in full. Once you are enrolled in an installment payment plan, you will no longer receive collection letters from the IRS or be subject to penalties.
This plan is also a great way to show the IRS that you're willing to resolve your debt. One disadvantage is that the IRS will continue to apply interest to your total debt, even if the amount you must pay each month changes according to the Fresh Start Program. With the IRS's ability to include interest in the outstanding amount on your account, you'll end up paying more than you originally owed. While an installment agreement is a valid form of Fresh Start tax relief, it's difficult to reach an agreement with the IRS for a reasonable monthly payment.
Your chances of making smaller monthly payments are more likely if you use a professional tax relief company to represent you on your behalf. Their team of enrolled agents and tax attorneys are professionals in negotiating with the IRS and have experience with the IRS Fresh Start Initiative. Unlike other Fresh Start tax programs, non-collectible status is a “state” rather than a form of tax relief. Some people unintentionally violate tax laws, so the IRS created the Fresh Start program (Fresh Start Initiative) to help them.
Tax Defense Network is experienced in negotiating payment plans under IRS Fresh Start and can help you eliminate and avoid tax liens through the program. The IRS Fresh Start program offers tax debt options that make it easier and less onerous for individual and small business taxpayers to catch up with their back taxes. Those applying for the IRS Fresh Start Program must follow the guidelines set by the IRS for all previous and existing tax returns. If you try to apply for the IRS Fresh Start Initiative on your own, the IRS will try to get you to accept the terms that are most favorable to them.
They evaluate your case, understand the relevant facts, and then sit down with you to discuss your options, including the IRS Fresh Start Program. If you think you qualify for the IRS Fresh Start program, contact the experts at Anthem Tax Services. Even though thousands of people are informed about the IRS Fresh Start Program every year, many people don't know it exists, or they immediately rule it out as an option. Tax experts have a skillful understanding of the requirements of the IRS Fresh Start Program and will not be intimidated or deceived by the IRS into coming to an optimal resolution.
The IRS Fresh Start initiative expanded several programs to help taxpayers struggling with outstanding tax debts. While federal tax law previously provided for such agreements, the IRS Fresh Start Program has simplified the process.