People who qualify for the program who have an IRS debt of fifty thousand dollars or less, or the ability to pay most of the amount. Be able to pay off the debt within 5 years or less Not having fallen behind on IRS tax payments before. Be ready to pay according to the direct payment structure. New IRS initiative to start helps taxpayers who owe taxes The Fresh Start program allows taxpayers with back taxes to enter into an agreement that extends the payment over months, but not more than 5 to 6 years.
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. To meet the requirements of the IRS Fresh Start Initiative, you must be able to show that paying your tax balance would cause you significant financial difficulties. To maintain the Fresh Start installment agreement, taxpayers must continue to comply with taxes, meaning the IRS Fresh Start Program is an excellent option for involuntary tax violators because of its flexibility. If you're wondering if the IRS Fresh Start program can help you save on your back taxes, you're in for a pleasant surprise.
The severity of your financial difficulties determines what type of Fresh Start tax program is available to you. Currently, the non-collectible status allows taxpayers to find the Fresh Start tax relief in peace, without being prosecuted by the IRS. 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. In most cases, it's best to hire a tax refund assistance company to help you with the IRS Fresh Start program.
While the Fresh Start initiative is not a program you can apply to, it does have specific eligibility requirements that you must meet before you can take advantage of changes in the IRS rules on back taxes. The IRS will not accept a request for tax relief through the Fresh Start Initiative without sufficient evidence. 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. When looking for a backward tax assistance company to help you with the Fresh Start initiative, don't limit yourself to local firms.
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. If you're struggling to pay outstanding back taxes, the Fresh Start initiative can help you recover.