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What You Need to Know about the IRS Fresh Start Program

Do you owe the IRS substantial sums of money? Are you worried about how you are going to be able to pay your debt without incurring additional interest and penalties? If you are worried about going into debt just to pay off your debt to the IRS, you should look into taking advantage of the IRS Fresh Start Program. This program helps taxpayers repay their taxes and avoid the consequences of tax liens.

Benefits of the IRS Fresh Start Program

The IRS Fresh Start Program has the following benefits:

  • Installment Agreements: The program also expanded taxpayer access to streamlined installment agreements. If you are an individual taxpayer who owes up to $50,000; you can pay your debt through monthly direct debit payments for up to six years.
  • Offers in Compromise: Fresh Start expanded and streamlined the Offer in Compromise program, which lets you settle your tax debt for less than the full amount you owe. With the expansion, more taxpayers can take advantage of the program’s benefits.
  • Tax Liens: The Fresh Start program increased the amount that taxpayers can owe before the IRS generally will file a Notice of Federal Tax Lien to $10,000. However, the IRS may still decide to file a lien notice on amounts less than $10,000. Some taxpayers might be eligible to have their lien notice withdrawn if they use a Direct Debit installment agreement to pay back their tax debt.

Help with the IRS Fresh Start Program from an Experienced Attorney

At Eagleton, Eagleton & Harrison, Inc., our team of dedicated legal professionals is here to help you resolve all of your tax matters. If you have more questions about qualifying for the IRS Fresh Start Program, you should consult with our lawyer to discuss the details of your case. We will guide you through the complex legal process and use our extensive resources to defend your rights.

Have more questions about the IRS Fresh Start Program? Call (918) 584-0462 today to schedule your consultation with a member of our legal team.