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How can you get a clean slate with the IRS?

On Behalf of | Nov 18, 2022 | IRS Issues

Financial problems can affect anyone, at any time. You may find yourself in a place where you are unable to manage your financial responsibilities, including paying your taxes. Illness, an injury that prevents you from working, loss of your job and many other factors can lead to struggles that may ultimately result in a debt problem you cannot control. If you are behind on your taxes, you could be facing penalties from the Internal Revenue Service.

After falling behind on your taxes, you may feel that you might never catch up. You may be unable to get yourself out of this position on your own, but thankfully, there are options that may provide you with the chance to have a clean slate with the IRS. It will be helpful to learn about the options available to you as you seek to improve your position and avoid additional penalties.

Moving in the right direction

There are various options available to those who are unable to pay the taxes they owe to the IRS. If you genuinely do not believe that you owe the taxes that the IRS is trying to make you pay, you may benefit from learning more about the Taxpayer Advocate Service. While some of the more complex cases may have to go to court, you might be able to resolve your matter through this department. However, if the taxes are legitimate, you may benefit from learning more about the Fresh Start Program.

This IRS program will make it easier to collect payment while allowing you to make case-specific arrangements for your unpaid taxes. The Fresh Start Program increases the threshold for tax liens, simplifies the process for having liens removed, and it allows a taxpayer to enroll in a direct withdrawal program to make a payment of a fixed amount each month. There are other provisions of this program that can provide relief and benefits for many.

Solutions for debt problems

Taxpayers in Georgia will benefit from learning more about how they can manage their current tax-debt burden and seek a better financial future for themselves. There are legal options available to those who are facing tax issues and the probability of a complex issue with the IRS. Experienced guidance may be critical in the pursuit of a reasonable outcome and the fight to protect one’s financial interests as much as possible.