The IRS Fresh Start Program
Fresh Start Program is designed to provide relief to taxpayers who are struggling with tax debt. If you are facing tax debt problems, it is important to consult with a tax professional to determine if you are eligible for any of the relief options provided by the Fresh Start Program.
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The Fresh Start Program was introduced in 2011 and has been expanded since then.
The program is not a separate program but a set of changes to existing IRS programs and policies to help taxpayers resolve their tax debt problems. Some of the key features of the program include:
Streamlined installment agreements:
The Fresh Start Program has made it easier for taxpayers to set up installment agreements to pay their tax debts. Taxpayers who owe up to $50,000 can apply for an installment agreement online, without having to provide a financial statement or substantiation of living expenses.
In addition, taxpayers who owe between $50,000 and $100,000 can also apply for an installment agreement, but they may need to provide additional financial information.
Offer in Compromise (OIC): The Fresh Start Program has expanded the eligibility for taxpayers to qualify for an Offer in Compromise, which allows them to settle their tax debts for less than the full amount owed. The program has increased the threshold for the amount owed from $25,000 to $50,000, which means more taxpayers are eligible for the OIC.
Penalty relief: The Fresh Start Program offers penalty relief for taxpayers who have failed to file or pay their taxes on time. The program allows taxpayers who have a good compliance history to request a first-time penalty abatement for failure-to-file, failure-to-pay, and failure-to-deposit penalties.
Tax liens: The Fresh Start Program has made it easier for taxpayers to avoid tax liens. Taxpayers who owe less than $10,000 can request that the IRS withdraw the tax lien if they agree to pay their tax debt in full via a Direct Debit Installment Agreement.
Taxpayers who owe between $10,000 and $25,000 can also request that the IRS withdraw the tax lien if they agree to participate in a streamlined installment agreement.
Overall, the Fresh Start Program is designed to provide relief to taxpayers who are struggling with tax debt. If you are facing tax debt problems, it is important to consult with a tax professional to determine if you are eligible for any of the relief options provided by the Fresh Start Program.
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