I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States.
The Internal Revenue Service (IRS) Fresh Start Initiative is a set of policies and programs designed to help taxpayers who are having difficulty meeting their federal tax obligations. It includes several new programs, such as expanded eligibility for payment plans, tax lien reductions, and easier access to the Offer in Compromise program. The goal of the Fresh Start Initiative is to provide taxpayers with more flexibility and to make it easier for those who can’t pay their taxes to come into compliance.
Under the Fresh Start Initiative, the IRS has increased the threshold for filing a streamlined installment agreement from $10,000 to $50,000. This means that taxpayers who owe up to $50,000 in taxes can more easily set up a structured payment plan that works for them. The IRS has also reduced the minimum payment required on installment agreements, giving taxpayers more flexibility to pay off their tax debt over time.
The Fresh Start Initiative also includes a program that reduces certain types of tax liens. The program offers taxpayers the opportunity to have a lien removed or have the filing of a lien withdrawn if certain criteria are met. This program can make it easier for taxpayers to access credit and make other financial transactions.
In addition, the Fresh Start Initiative includes an expansion of the Offer in Compromise program, which allows taxpayers to settle their tax debt for less than the full amount owed. The program has been simplified, making it easier to qualify for a lower settlement amount.
The IRS Fresh Start Initiative is an important step toward helping taxpayers pay their tax debt and get back on track financially. It is designed to allow taxpayers to make a fresh start and put their tax issues behind them.