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IRS Fresh Start Program offers tax relief options

On Behalf of | Sep 23, 2020 | Tax Debt

Not having the funds available to cover a tax bill can feel devastating. For some individuals in Atlanta and elsewhere, this scenario can haunt them for some time. Fortunately, there are ways for individuals to address outstanding tax debt rather than feeling as if they have to hide from the Internal Revenue Service. In fact, the IRS has programs to help with tax relief.

The IRS Fresh Start Program offers various ways for qualifying taxpayers to get their taxes back on track. In particular, this program is aimed at taxpayers who may be facing a particularly challenging time financially, such as after losing a job. One way the program can help is that a person who has faced unemployment for over 30 days can request to have typical penalties for late payments waived.

In addition to requesting waived fees, applicants could request tax lien relief, an offer in compromise to pay a lower tax amount than owed or an installment agreement that would allow the taxpayer to pay off the outstanding balance over time. The qualifications for these options vary, so taxpayers may want to ensure that they qualify before banking on using one of these relief methods. Still, the Fresh Start Program could offer significant benefits to those who do meet the requirements.

Because pursuing tax relief can be complicated, Atlanta residents looking to handle their tax burdens may want help. Fortunately, experienced tax attorneys could help interested parties better understand the IRS Fresh Start Program and the necessary qualifications. Additionally, these legal professionals could help concerns individuals explore other options for handling their tax debt if needed.