What Is The Fresh Start Initiative?

The IRS Fresh Start Program encompasses all of the options discussed in our previous article, “Can The IRS Debt Forgiveness Plan Help Me“, but with a few notable differences such as having a federal tax lien withdrawn from you provided you are seeking relief under this program just to name a few.

Much like the IRS Debt Forgiveness Plan, The Fresh Start tax program is designed to be available to everyone. With so many different options, it’s likely that you’ll find one that’s right for you. However, the complexity of the program means that you’ll need to work with a tax professional to get the most out of it. Naples/Fort Myers Tax Attorney, Todd Babbit, can help guide you through the intricacies of this program.

So How Does This Program Even Work?

Say have been owing the IRS thousands of dollars for years due to back taxes and you may not be able to pay it for various reasons such as being out of work and unable to afford to pay your debts. The IRS’ Fresh Start Program aims to help you by preventing the agency from collecting more than you can afford to pay. This allows you to reach an agreement with the IRS and resolve your outstanding financial tax issues. However to do this involves filling out an application and communicating financials to the IRS along with negotiating which program options for repayment are best such as: An Installment Agreement, A Offer in Compromise, Currently Non-Collectible Status or Penalty Abatement.

How Do I Even Begin This Application Process?

Before an application process can begin, you will need to be aware of certain stipulations & rules that if not followed properly, it will delay or result in denial of your application. For example, the IRS will not approve a request for tax relief through the Fresh Start Initiative if the applicant does not provide sufficient evidence. This means that the request should include as much supporting documentation as possible. This is where our team here at Babbit Tax Law will help guide you.

Now keep in mind, to be eligible for tax relief through the FreshStart Program, you must file all of your missing and unfiled tax returns and submit your current estimated tax payments. You also must make sure that their current filings are current and correct.

If you are not sure if the IRS will approve your request, schedule a consult with Todd Babbitt to go over your case and our tax professionals can help you with this program or any other program or IRS Debt Relief options available to you.