One of the most typical tax issues in the nation is getting a tax bill that you can’t pay in full. Because of this, the IRS assists with tax reductions through the IRS Fresh Start program.
To be clear, there are other options besides the IRS Fresh Start. There are various IRS assistance services that the organization offers.
Under the Fresh Start tax program, some of the most popular alternatives for taxpayer relief include:
Although not everyone will be eligible for these options, the IRS will consult with you individually to establish which form of relief is most appropriate for your circumstances. The Fresh Start program benefits both the IRS and the taxpayers.
Is the IRS Fresh Start Program Right for Me?
Although you may believe the IRS Fresh Start project is a terrific concept, you may not be certain if you are eligible for any kind of tax relief.
However, the IRS provides tax relief options for taxpayers at all income levels. That implies that, depending on your particular financial status, you are probably eligible for some kind of help. Consider contacting a tax expert for more information to find out any tax relief programs you are eligible for.
the IRS Fresh Start Program's requirements
Fresh Start initiative 2020 was a well-liked search word a few years ago, but the current status of the economy suggests that demand for tax relief aid hasn’t decreased. The following requirements must be met to be eligible for tax debt relief:
- You are self-employed and your income has decreased by at least 25%.
- You are single and make less than $100,000 per year.
- You’re married and make less than $200,000 per year.
- Your outstanding tax debt is less than $50,000.
When to Take the Fresh Start Program Into Account
If you’re a taxpayer who is struggling with a significant tax debt load that you are unable to pay off right now, you should think about finding out more about the Fresh Start Program. If paying off your debt would put you in financial difficulty, this tax relief program can still be of assistance.
Is the Fresh Start Initiative legitimate?
We are aware of your thoughts. This Fresh Start Program feels like too much of a good thing. The IRS forgiveness program is 100 percent legal, which is fantastic news.
Check out our free tax help resources if you have similar inquiries for more details.
Application Procedures for the IRS Fresh Start Program
You must first make sure that all of your prior tax returns are filed and updated before you can apply for back tax relief. After that, you should talk to a tax professional about your circumstances to decide which kind of relief to apply for. After that, you’ll speak with the IRS, complete several tax forms, and hopefully, come to a resolution.
Do You Have Any Additional Tax Questions?
You should now be aware that those who owe the IRS money can benefit from the Fresh Start tax initiative after reading this article. This can be a viable choice for you if you are unable to pay your taxes in full. However, you might be reluctant to contact the IRS directly or you might be unsure of the proper procedures for submitting your prior tax returns. For most types of tax debt relief, this is typically a requirement.
Every step of the way, our team of tax specialists can guide you through your tax problems. Our group includes tax lawyers, CPAs, enrolled agents, certified tax advisors, and more. We can assist you no matter your tax position. Call us right away at (800) 264-1869 to begin the process of obtaining tax debt relief.