The program was designed to give first-time tax offenders the opportunity to fix things with a tax forgiveness. It allows taxpayers to pay off their tax debts over six years with monthly payments that are decided based on how much they currently earn and the value of their liquid assets. Most of the time they finally settle all their outstanding dues within 6 years. You also need to promptly submit all future returns in order to enroll in the Fresh Start Program.
You may think that the IRS's Fresh Start initiative seems like a great idea, but you also might 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 to the IRS government. You should consider learning more about the Fresh Start Program if you're a taxpayer with a huge burden of tax debt that you can't pay right away. The IRS Fresh Start initiative expanded several programs to help taxpayers struggling with outstanding tax debts.
The IRS requires that you be up to date with all tax returns before you are considered for the Fresh Start program. Next, we'll discuss the details of your situation with you to identify which Fresh Start tax program option is the most appropriate. The Fresh Start provisions give more taxpayers the ability to use simplified installment agreements to catch up with back taxes and also more time to pay. If you have problems with back taxes and are concerned about being up to date (and keeping) up to date with your tax payments, you may qualify for assistance under an IRS initiative called Fresh Start.
However, the complexity of the IRS's Fresh Start initiative means that you have a lot to gain from working with a tax professional when you explore what's available to you. Those applying for the IRS Fresh Start Program must follow the guidelines set by the IRS for all previous and existing tax returns. To stay on the Fresh Start installment agreement, taxpayers must continue to comply with taxes, meaning the Fresh Start program is good for those who can afford the monthly payment amount and are looking to improve or maintain their credit. Once again, the Fresh Start program helps you pay off your tax debt affordably, without the risk of going into debt.
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.