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Seeking tax relief via the Fresh Start Program

On Behalf of | Aug 7, 2022 | Tax Debt

Issues with unpaid tax debts can arise in various situations and those who face similar concerns may find themselves in a significant financial bind. Overdue tax debts can lead to interest fees and penalties, or even prompt issues such as tax liens and levies. Individuals in Georgia who face similar concerns and wish to know more about their options for tax relief could find it helpful to explore the possible benefits of the IRS Fresh Start program. 

What is the Fresh Start program? 

According to experts, the IRS Fresh Start program is an initiative that was implemented to help provide relief to those who fall behind on tax debts. This program may allow a person the opportunity to pay off debts via installments over a set period, and it may also help reduce the overall amount owed. Some of the provisions in this program may also help reduce the impact tax liens could have on one’s credit and allow for higher tax lien thresholds for those who seek relief via offers in compromise.  

However, the benefits provided via this initiative may only work to one’s benefit if a person is taking steps to address the issues at hand. This option also only applies to past due income taxes and does not cover issues such as estate or gift taxes. While this program may be a viable path for those facing tax debt concerns, knowing the requirements for eligibility and how best to initiate the process can be a difficult task. 

Seeking tax relief 

Individuals who are in need of tax relief and remain uncertain if the Fresh Start program might be an option could consider speaking with an attorney for guidance in evaluating their situations. An attorney in Georgia can help a client better understand all the available options for tax debt relief and the rules and regulations of each in turn. Such guidance could provide integral to helping a client prepare a strategy with which to reduce his or her tax debt burdens through the appropriate outlets.