Who doesn’t like a fresh start? Sometimes it’s a new job in a completely different industry? Perhaps, you’ve had it with your current significant other, or maybe you’re ready to bolt your living quarters and start all over somewhere else. There’s nothing quite like that feeling of rinsing yourself off, so to speak, and starting over with a completely new perspective. That’s why they call it a fresh start.
Taxes are another area in life where it can be great to get a fresh new start, especially for those who owe back taxes. The IRS has a history of being one of the harshest liability collectors and resolving liabilitys owed with them has not been an easy task. Owing the IRS has burdened many taxpayers and has made it even more difficult to get out of because of the collection techniques used by them.
So, if you combine the overall negative aspects of liability with the dread of dealing with the IRS, it’s easy to see how getting a fresh start with your tax situation would be a welcome change for anyone. Thankfully, there is some good news for people in this situation. It’s called the IRS Fresh Start Initiative Program, which according to the agency “makes it easier for taxpayers to pay back taxes and avoid tax liens. Even small business taxpayers may benefit from Fresh Start.”
So what is the Fresh Start program? It’s actually been around since 2011 but the IRS has instituted several additions and changes to the initiative since it was first launched. The IRS provides taxpayers several options to settle their tax liabilities, and the Fresh Start program is essentially a compilation of these many alternatives. While these options are not necessarily new, they do offer some differences in the methods the IRS uses to analyze and process tax payments. If you currently owe back taxes then many of these changes could be very helpful for your situation.
There are several advantages to the Fresh Start Program, including:
The bottom line when you use the fresh start program is that you have a better chance of resolving your taxes owed with less trouble from the IRS. When you owe money to the IRS, the agency’s focus is to get as much money as they can as quickly as they can. That can make your life very difficult. One way to avoid this and get as much as you can out for the Fresh Start program is to work with a qualified tax professional that can help you navigate through this process successfully. With the right help you can often settle your taxes owed for less than you owe and finally get the IRS off your back. Add it all up and it equals a fresh new start.
Our licensed tax professionals can quickly analyze your tax situation and determine if you are a candidate for one of these programs. Our consultations are free and come with no obligation to use us for services. If you would like to talk to a tax professional, please complete the tax consultation request form or call the number at the top of the page.
This post was published on June 27, 2017