The IRS Fresh Start program is a set of initiatives offered by the IRS to help taxpayers who are struggling to pay their taxes. These initiatives include payment plans, simplified tax filing procedures, and more. If you owe taxes and are struggling to pay them, the IRS's Fresh Start initiatives can help. The program was designed to give first-time tax offenders an opportunity to fix things.
It allows taxpayers to pay off their tax debts for six years through monthly payments that are decided based on what they currently earn and the value of their liquid assets. Most of the time, they eventually settle all of their outstanding dues within 6 years. The IRS calculates affordable payment amounts to ensure that payments are made on time without financial problems. Those who apply for the IRS Fresh Start Program must follow the guidelines established by the IRS for all previous and existing tax returns.
This method is reserved only for taxpayers who are in difficult economic situations and do not have the financial resources to pay their federal tax debt in full. So, although the program had its own formulas, the IRS also considered the realities faced by people, such as unemployment, which made them resort to their taxes. We strongly recommend that you consult with a tax professional before you apply to the IRS for this status. Unlike other Fresh Start tax programs, non-collectible status is a “state” rather than a form of tax relief.
After you submit your request, the IRS will let them know what the exact amount of the payment would be. Taxes, wage garnishment, tax liens and collection notices from the IRS are prohibited in this state. Through the Fresh Start Program, taxpayers can pay the IRS a regular monthly payment instead of paying the entire debt in one go. The right tax relief company will be transparent about its process, will have experience negotiating with the IRS and getting results for its clients, and will focus its strategies on you and your financial needs.
These payments go directly to the taxpayer's total tax debt and continue until the debt is paid in full. To meet the requirements of the IRS Fresh Start Initiative, you must be able to show that paying your tax balance would cause significant financial hardship. We strongly believe in the Golden Rule, so editorial opinions are ours alone and have not been reviewed, approved, or endorsed in advance by the advertisers included. To apply, write a letter to your regional IRS office informing them that you are interested in Fresh Start.
