Struggling taxpayers who are facing IRS debt can now seek resolution through the IRS Fresh Start Initiative Program.
The Fresh Start Program expands relief for taxpayers through penalty relief, installment agreements, and offer in compromise.
Fresh Start Initiative: Penalty Relief
The Fresh Start Initiative Program provides penalty relief to wage earners who have been unemployed for at least one month, and self-employed entrepreneurs who have faced at least a 25% reduction in business income.
Fresh Start Initiative: Installment Agreements
Installment agreements give taxpayers in IRS debt the option to use structured payments towards back taxes. This Fresh Start Program helps troubled taxpayers avoid further penalties and have more time to pay.
Fresh Start Initiative: Offer in Compromise
The IRS Fresh Start Initiative Program has expanded its coverage for the Offer in Compromise plan. An Offer in Compromise helps taxpayers settle their agreement for an amount less than what was originally owed in back taxes.