IRS Helps Taxpayers who Owe Back Taxes?

Yes!  New IRS Fresh Start Initiative Helps Taxpayers Who have Past Due Taxes

All irs back tax help writing is in blue.  Below is a link to the IRS Fresh Start Initiative that helps people who are dealing with overdue IRS tax.   effective 3/12/2012.  If you have questions about this review, please reference:  bp108.

• If you know you need to take action, read my article “IF” you should hire IRS back tax help.  (You should not automatically.) Titled “Owe IRS back taxes? When, who, and how do I hire IRS back tax help?” before you do anything else.

As usual, If you like the tone of this writing, I would like to refer you to someone who meets irs back tax help criteria.  Please contact irs back tax help.  Before you email me, please click on and read “About irs back tax help.”

IRS Fresh Start Initiative 2012

First, last year’s review:  2011 IRS Fresh Start Initiative.

The irs.gov link and full original text:  2012 IRS Fresh Start Initiative.

New changes in IRS Collection policy for 2012 are reviewed below.

1. “Penalty relief Part of the initiative relieves some unemployed taxpayers from failure-to-pay penalties. Penalties are one of the biggest factors a financially distressed taxpayer faces on a tax bill. The Fresh Start Penalty Relief Initiative gives eligible taxpayers a six-month extension to fully pay 2011 taxes. Interest still applies on the 2011 taxes from April 17, 2012 until the tax is paid, but you won’t face failure-to-pay penalties if you pay your tax, interest and any other penalties in full by Oct. 15, 2012.”

• The first question that comes up is do you have to be unemployed now, or at the time the tax liability was accrued?  Still searching for the answer.
• This is great news and dovetails exactly with when we have always recommended you seek to hire IRS back tax help.  (When you owe more than $50,000)
• Before you set up an installment agreement with the IRS through the On-line Payment Agreement (OPA), I really recommend you take the time to read about the “in’s and out’s” of IRS Installment Agreements.

2. Installment agreements.  “The new threshold for requesting an installment agreement has been raised from $25,000 to $50,000. This option requires limited financial information, meaning far less burden to the taxpayer. The maximum term for streamlined installment agreements has been raised to six years from the current five-year maximum.”

3. Offer in Compromise:  No official changes to Offer in Compromise (IRS Form 656) for 2012.  (Yet.)

The IRS “What Ifs” for taxpayers in an Economic Downturn

Click “About irs back tax help” to learn about us or read irs back tax help Testimonials to see how we treat people.

If you would like irs back tax help to be your first or second opinion, I can be reached at irsbacktaxhelp@gmail.com.  I do not pressure people in an already stressful situation.

Regards,

irs back tax help