What is The IRS Fresh Start Program?
Fresh Start Program: An IRS Program Aimed at Helping to Resolve More than $3 Billion in Back Taxes
The Fresh Start Program is designed to help individuals that have fallen behind on their tax obligations establish themselves on a repayment schedule, or completely resolve the tax debt, halting the collection procedures that the IRS has at their disposal. Tax debt is a challenge for many families and small business owners in America just trying to make ends meet between paychecks. Getting relief from tax debt is a priority if you, your family, or your business want to get back on the right track and relieve the stress that comes from collection notices and threatening letters.
Key Benefits of the IRS’ Fresh Start Program:
Who qualifies for the Fresh Start Program?
You may qualify for the IRS’ Fresh Start Program if the following conditions apply to you:
- You owe less than $50,000 in total outstanding tax debt to the IRS.
- You are a businesses that owes less than $25,000 in back taxes to the IRS.
- You can provide evidence of your inability to pay the total tax burden in a timely manner, either through installments or a lump sum payment.
- You earn less than $100,000 in annual income.
Above are the primary qualifications, but every situation is unique. Taking advantage of every option available to resolve your tax burden is very important.
Any taxpayer applying for the IRS Fresh Start must do the following in order to qualify:
- Provide evidence that current assets are insufficient to satisfy the tax debt.
- Ensure all tax returns have been filed (payment is not required in order to file).
- Small business owners and self-employed individuals must pay all estimated tax payments for the current fiscal year.
- Ensure all tax deposits required by the IRS for your business have been paid on behalf of your employees.
- Resolve or discontinue any bankruptcy proceedings.
Quickly contacting a qualified tax resolution expert to assist with your case should be your top priority. They will have the experience and knowledge of the system to make sure you are able to take advantage of the best resolution according to your financial situation. Consulting a tax professional does not put you at additional risk for IRS tax collection procedures. The most dangerous thing a taxpayer can do with an IRS tax debt is ignore the problem.
5 Reasons Consulting a Tax Professional is Better than Working Directly with the IRS
- The IRS offers taxpayers a variety of options for resolving their tax debt. From debt forgiveness, offers in compromise to a traditional IRS payment plan, a tax professional will help you find the right combination to minimize your total tax burden.
- The IRS has hard and fast deadlines that must be met. Errors in filings or changes to program rules can impact your eligibility. A tax professional will help keep your appeal, application for a payment plan and repayment on track until your tax debt is nothing more than an unpleasant memory.
- A tax debt professional can help you find an approach that minimizes the impact of the IRS’ collection activities on your daily life. Proper communication and prompt filing is key. First-time taxpayers dealing with the IRS have a hard time quickly comprehending their options and communicating in terms the IRS understands.
- Letting a tax professional lend a helping hand reduces the personal strain and stress on your family. Let your representative handle the IRS’ verification requests and filing requirements. Conversations with the IRS are rarely pleasant, especially for worried taxpayers. Your pro has been there before and knows how to effectively handle your case.
- In the end, it can actually be more expensive to deal with the IRS on your own. Tax debt professionals help taxpayers take care of tax debts quickly, while minimizing the total amount owed whenever possible.
How can CuraDebt Help?
Spending the Time Necessary to Investigate Your Unique Situation
Three-Phase Approach to Tax Debt Relief
Free Tax Consultation –1-877-999-0486
If you are currently facing IRS tax debt, avail of a strictly confidential, no obligation free tax debt consultation from CuraDebt. Our experienced tax debt counselors will assess your unique situation and help create a path towards total resolution with the IRS.