IRS Fresh Start Program Makes It Easier To Settle Tax Debt

These turbulent economic times have affected everyone, but none have taken the financial brunt more directly than small businesses and the self-employed. "I'll pay the IRS as soon as I get paid" is a recurring statement I've heard from clients over the years.

Believe me, it doesn't take long for delinquent taxes to snowball out of control into an avalanche of threatening IRS notices and enforcement action.

Recently, the IRS has initiated changes to the tax collection process, making it easier for Taxpayers to repay or settle their tax debt. Known as the "Fresh Start" program, the IRS responded to the financial hardship facing many Taxpayers, by making it more attainable for Taxpayers to enter into payment plans or settle their tax debts for less than the total amount owed.

Under the Fresh Start program, many Taxpayers now qualify for streamlined payment plans, Offer in Compromise settlements and even the release of tax liens. Establishing a payment plan in just one phone call to the IRS is now a reality for many Taxpayers!

With more than 8 years in the tax resolution industry representing businesses and individuals, I highly recommend that you take advantage of the opportunities being afforded by the IRS to resolve your tax debt. Now, more than ever, you can obtain much need relief from past due taxes.

The main IRS Fresh Start initiatives are listed below.

1. Making it easier for taxpayers to obtain withdrawal of federal tax liens.

2. Creating easier access to Installment Agreements for struggling small businesses and individuals owing up to $50K.

3. Affording more opportunities for taxpayers to be eligible for the Offer in Compromise program, while offering more flexible terms of settlement.

The Fresh Start initiatives are helping Taxpayers to resolve their tax liabilities through payment plans and settlements. The IRS has become more conducive to working with Taxpayers, including be more willing to settle a tax debt. In the past year I have had the highest number of Offer in Compromises accepted by the IRS, than in any previous year. I encourage Taxpayers to explore the Offer in Compromise program to try and settle their debt and obtain closure to their case.

Additionally, it is now possible to avoid filing of federal tax liens and obtain withdrawal of tax liens which are already filed. Tax liens can damage credit and prevent Taxpayers from borrowing money or liquidating assets. It is important that Taxpayers know their rights and can take advantage of the Fresh Start program.

Knowledge is power. Ideal Tax Consulting, LLC will guide you to the best resolution available for your particular situation. Successful resolution of your tax debt is achievable. Be proactive and take advantage of the IRS Fresh Start initiatives.