Fresh Start: How the IRS Can Help You Get Relief from Back Taxes

 








The Internal Revenue Service (IRS) Fresh Start Program is a program that is designed to help taxpayers who are struggling to pay their taxes. This program provides relief to individuals and businesses who are facing financial hardship and cannot pay their taxes in full. The Fresh Start Program offers various options to taxpayers, such as installment agreements, penalty abatement, and offers in compromise.


Installment agreements are payment plans that allow taxpayers to pay their tax debt in smaller, more manageable amounts. Under this program, taxpayers can make monthly payments to the IRS until their tax debt is paid in full. The IRS offers different types of installment agreements, including guaranteed, streamlined, and regular installment agreements. Guaranteed installment agreements are available to taxpayers who owe $10,000 or less in taxes and have filed all of their tax returns. Streamlined installment agreements are available to taxpayers who owe $50,000 or less in taxes and can pay their debt off within six years. Regular installment agreements are available to taxpayers who owe more than $50,000 in taxes or cannot pay their debt within six years.


Penalty abatement is another option available to taxpayers under the Fresh Start Program. This option allows taxpayers to have some or all of their penalties waived if they have a valid reason for not paying their taxes on time. Valid reasons include natural disasters, serious illnesses, and other circumstances beyond the taxpayer's control.


Offers in compromise are another option available to taxpayers under the Fresh Start Program. This option allows taxpayers to settle their tax debt for less than the full amount owed. To qualify for an offer in compromise, taxpayers must meet certain requirements, including having filed all of their tax returns and not being able to pay their tax debt in full.


The Fresh Start Program is designed to help taxpayers who are struggling to pay their taxes and facing financial hardship. This program provides relief to individuals and businesses who cannot pay their taxes in full and offers various options to help them resolve their tax debt. The program is available to taxpayers who owe back taxes, penalties, and interest to the IRS.


To apply for the Fresh Start Program, taxpayers should contact Martin Cantu, EA. I will review your information and determine which options are available to you under the Fresh Start Program.


The IRS Fresh Start Program is a program that provides relief to taxpayers who are facing financial hardship and cannot pay their taxes in full. This program offers various options, including installment agreements, penalty abatement, and offers in compromise, to help taxpayers resolve their tax debt. Taxpayers who are struggling to pay their taxes should contact the IRS or speak with a tax professional to learn more about the Fresh Start Program and how it can help them. Contact me today for more information. 



















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