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IRS Rules Offer Assistance To Help Struggling Taxpayers Resolve Tax Debt

Are you struggling to stay current on your taxes? Do you need help to pay your back taxes? You are not alone.

The IRS recognizes its obligation to work with struggling taxpayers and as a result has expanded its "Fresh Start" initiative to help such people. Primarily, the steps include:

  1. New penalty relief to the unemployed
  2. Easier qualifications for streamlined installment agreements
  3. Easier criteria for compromise offers with the IRS

Not Sure If You Qualify For IRS Tax Relief Under The Fresh Start Initiative?

Contact a tax attorney from Bucci Law Offices. From our offices in Fort Lauderdale and Miami, we will help evaluate if you qualify for tax debt relief under the IRS' Fresh Start initiative.

Do not delay. There are no guarantees that the Fresh Start initiative will last. Call our skilled tax attorneys today to discuss how to resolve your tax problems. Even if you cannot take advantage of the opportunities under the Fresh Start program, we may still be able to help you resolve your IRS problems.

IRS Penalty Relief For Unemployed Taxpayers

Under the new provisions, certain taxpayers who have been unemployed for 30 days or longer will be able to avoid failure-to-pay penalties, which once would have led to additional penalties. To assist those in need, a six-month grace period on failure-to-pay penalties is available to certain wage earners and self-employed individuals. Relief will be granted only under the following circumstances, however, and there are income limits. Contact our firm to determine whether you qualify for relief.

Installment Agreements Under Fresh Start

As part of its Fresh Start program, the IRS is allowing more taxpayers, including individuals and small businesses, to qualify for installment agreements.

For taxpayers who cannot pay their entire tax bill on time, the IRS is authorized to enter into a monthly payment plan, known as an installment agreement. The Fresh Start program changed the rules and made it easier for a taxpayer to qualify for an installment agreement.

$50,000 or less owed: Taxpayers who owe up to $50,000 in back taxes can now enter into a streamlined installment agreement with the IRS that stretches the payment term over a series of months or years, up to 72 months.

More than $50,000 owed: If your tax liability exceeds $50,000, the process is more complex. There is a high likelihood that you will need an experienced tax professional to navigate you through the process. A tax attorney from Bucci Law Offices can help you establish a practical and sustainable installment agreement with the IRS that works for your lifestyle.

Helping small businesses relieve IRS tax debt: The Fresh Start program made streamlined installment agreements available to more small businesses. Previously, participation was limited to small businesses with under $10,000 in liabilities. The ceiling for agreements has been increased to $25,000.

A Streamlined Offer In Compromise Program

The IRS also expanded a streamlined offer in compromise program to cover a larger group of struggling taxpayers. An offer in compromise is an agreement between a taxpayer and the IRS settling the taxpayer's liabilities for less than the full amount owed and is based on the taxpayer's reasonable collection potential.

Under the Fresh Start rules, the IRS has increased flexibility with financial analysis to determine the taxpayer's reasonable collection potential.

Ignoring The IRS Is Never A Good Option. Contact Experienced Tax Lawyers.

The worst thing you can do is to ignore your tax problems and hope they go away. Even if you cannot pay your tax debt in full, our experienced tax attorneys will help you reach a practical and affordable resolution with the IRS.

If you are unsure whether you qualify for the IRS' Fresh Start program, contact Bucci Law Offices at 305-340-2275 in Miami, 954-900-9107 in Fort Lauderdale or toll free at 800-743-4263. We handle cases throughout Florida and worldwide. Call us today to schedule a consultation.