What is the IRS Fresh Start Program?
If you are struggling to pay your taxes then the IRS Fresh Start program can provide you with the tax relief you need. The IRS began the Fresh Start Program in 2011 to help struggling taxpayers. The IRS expanded the program by adopting more flexible Offer-in-Compromise terms. The IRS Fresh Start Initiative will enable the most financially distressed taxpayers to reduce or freeze the tax debt carried and can also help you set up a payment arrangement/ installment agreement with the IRS. This can benefit a taxpayer because they may be able to pay off taxes while avoiding IRS actions such as Liens, Levies, Wage Garnishments, and more. There are 4 main IRS Fresh Start programs
Currently Non-Collectible (CNC)
Do I Qualify For The IRS Fresh Start Program?
This program is designed for everyone that’s in financial hardship. This program has so much variety for your tax debt that you are likely to find at least one suitable option to help alleviate your IRS tax debt. However, applying for the IRS Fresh Start Initiative with a professional tax relief company like Fresh Tax Solutions means you have everything to gain when our tax professional explores all the tax relief options for you.
Now there is one requirement before applying for the IRS Fresh Start Program and that is having all your tax returns filed and being fully compliant with the IRS. Your tax returns must be fully current before you consider applying for the IRS Fresh Start Program. You also need to make sure that you have the correct amount of withholdings for the present year. This is one of the ways the IRS makes sure it can trust a taxpayer to be accountable.
IRS Fresh Start Program Qualifications
Some basic requirements must be met before applying for the IRS Fresh Start Initiative. This is what it takes to qualify:
- Single filers can’t earn more than $100,000 annually.
- Joint filers can’t earn more than $200,000 annually.
- Self-employed individuals must prove a drop of 25% in net income.
- The tax balance must be below $50,000 before the year ends.
Applying for the options that are appropriate for your situation is crucial. The IRS doesn’t just apply you to the Fresh Start Program simply because you qualify. The IRS charges, Interest, and penalties until your tax balance is paid in full. Getting help from a professional tax relief company like Fresh Tax Solutions can save you time and money.
How Does the Fresh Start Program Work?
The IRS Fresh Start Initiative is designed to provide a way to resolve your IRS tax debt and avoid penalties. Submitting the correct forms and documents to the IRS upon approval is required. Once approved you’ll need to set up a payment arrangement which can be a monthly payment, a lump sum payment, or a deferred payment.
How to Apply for the IRS Fresh Start Program?
Having a professional tax relief firm like Fresh Tax Solutions can eliminate the confusion and stress of dealing with the IRS on your own. Fresh Tax Solutions can ensure that you are following all the guidelines and applying to the program that best fits your financial situation. The IRS provides forms for all tax relief options included in the IRS Fresh Start Program. Understanding these forms on your own can be daunting but give Fresh Tax Solutions a call and we can give you a complimentary consultation and see what options may work best for you.
How Can Fresh Tax Solutions Help Me?
Fresh Tax Solutions has a team with over 10 years of experience. We have been helping Americans nationwide take advantage of the IRS Fresh Start Program since it was launched back in 2011. Our familiarity with the Fresh Start Program puts our clients with tax debt at an advantage when it comes to applying for this program. Fresh Tax Solutions can help if you’re facing issues when it comes to IRS tax debt.
