IRS Fresh Start Program
Don't Wait to Get Back In Compliance Today With The IRS - You Have Tax Relief Options
Are you struggling to resolve your tax debts? LFG Tax Help HAS ARRIVED
If you owe back taxes and receive a paycheck, the IRS can use its power to garnishments your wages. In addition, IRS can use more severe collection methods like bank levies and property seizures to try and settle your tax debt. Are you struggling to pay your federal taxes? If so, the IRS Fresh Start program might be your solution, whether you’re an individual taxpayer or a small business owner.
The IRS began Fresh Start in 2011 to help struggling taxpayers. To help more taxpayers, the IRS has expanded the program by adopting more flexible Offer-in-Compromise terms. This expansion will enable some of the most financially distressed taxpayers to clear up their tax problems, possibly more quickly than before.
An Offer in Compromise is an agreement with the IRS to settle the tax liability for less than the total amount. Because an OIC provides the most significant tax debt reduction, the IRS doesn’t accept just any application.
LFG Tax Help handles the complicated details of qualifying for an offer in compromise, helping alleviate your tax debt and saving you tens of thousands in IRS penalties, interest, and fees. We can save you a lot of money from the original tax debt for some clients with an Offer in Compromise. Contact us using the form below and get a FREE CONSULTATION with us today to help you get back to normal.
FAQ
Are you struggling to pay your federal taxes?
If so, the IRS Fresh Start program for individual taxpayers and small businesses can help. The IRS began Fresh Start in 2011 to help struggling taxpayers. Now, to help a greater number of taxpayers, the IRS has expanded the program by adopting more flexible Offer-in-Compromise terms. This expansion will enable
some of the most financially distressed taxpayers to clear up their tax problems, possibly more quickly than in the past.
What is an offer in compromise?
An OIC is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. Generally, the IRS does not accept an OIC if they believe the liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination of the taxpayer’s reasonable collection potential. OICs are subject to acceptance on legal requirements.
How does the IRS Fresh Start Program Work?
There are actually many different tax debt settlement programs that are available under the Fresh Start Program. Depending on your circumstances, you may qualify for a payment plan for the total tax debt, penalties, and fees being waived, or possibly even having a large portion of your tax liability reduced. If you reach out to one of our tax analysts, they can help you understand which of these programs you’ll qualify for and help you get on track with your tax debt.
Can I Settle with the IRS?
If you have unpaid tax liabilities that the IRS is trying to collect, there are numerous programs available to help you reduce your tax burden. From payment plans to penalty reductions to major cuts, our tax analysts will get to the bottom of which program fits your scenario the best.
However, each program requires numerous forms to be filled out in detail. Most folks have a much easier time settling with the IRS when they use a professional firm like Alleviate Tax who’s experienced with the IRS negotiation process. If you’re experiencing some of the circumstances below, there’s a strong chance we can help you!
Circumstances that will help your chances at a tax settlement with the IRS:
- Job loss
- Significant reduction in work hours
- Drastic pay cuts
- Bankruptcy filing
- Injury or illness
- Inability to meet basic needs like rent, groceries, and utilities
- Insufficient earnings to pay the tax debt off in full within the maximum allowed time frame
