Let’s be clear: the IRS Fresh Start program is not actually one program. It’s actually a number of tax debt relief solutions offered by the agency. Some of the most common relief options available to taxpayers under the Fresh Start tax program include:

The American Rescue Plan enacted these historic changes to the Child Tax Credit for 2021 only. That is why President Biden and many others strongly believe that we should extend the increased Child Tax Credit for years and years to come. President Biden proposes that in his Build Back Better agenda.

Falling behind on tax payments to the IRS is something that millions of Americans have dealt with at one time or another. Owing money to the IRS can be very intimidating, but don’t worry and definitely don’t lose hope – there is tax relief available. A reputable tax relief company can help you reach a tax relief agreement with the IRS.Using proven strategies, our knowledgeable experts can assist you through tax audits, help reduce your tax debt, and stop wage garnishments and bank levies from happening. In some cases, you may be able to settle tax debts for much less than was originally owed.

Your application must contain 20% of the offer amount in addition to the application fee. The IRS cannot refund this money, regardless of whether it rejects your offer. However, the IRS will only apply it to your tax bill.

The answer is yes. Both the IRS as well as taxpayers will benefit from the Fresh Start initiative. The IRS wins as they will receive some form payment, rather than being ghosted by taxpayers. The IRS wins because the taxpayer will be in good standing, meaning they won't be hit with levies or liens, wage garnishments, fines, criminal penalties, or other consequences.

Fresh Start Program allows taxpayers who owe back taxes to enter into an agreement that spreads out the payment over months but not more than 5-6 years. You will need to make direct debit payments.

Let's face it, the IRS Fresh Start isn't just one program. The IRS offers many tax debt relief solutions. Some of the most popular relief options available to taxpayers in the Fresh Start tax program are:

For more information on how to apply for the IRS Fresh Start Program, please get in touch with us for a free tax case review.

We've only briefly covered the basics of this program. We are available to answer any questions you may have, to give you a definitive answer about eligibility, and to help you apply for the Fresh Start Initiative. No matter what your situation, our friendly, qualified tax professionals can help you find the best way to move forward.

What if the amount you are offered is determined by calculating your net realizable value and future income and it is far more than you can afford to pay? If you don't mind the IRS seizing any assets that you haven't disclosed, consider making an offer. The IRS has some flexibility to accept less money that is required by the OIC exception for effective tax administration (ETA).

Although "Fresh Start Initiative 2020" was a popular search term just a few years back, the current economic climate suggests that the program is still in demand. These are some of the requirements to be eligible for tax debt relief.

To claim deductions, it’s important to keep records of your donations to charities. You may not have to send these documents with your tax returns, but they are good to keep with your other tax records. Common documents include: