Can you confidently say that you’ve got no worries about someone suddenly pounding on your door one day, only to find that it’s none other than an IRS agent coming to collect the amount that you still apparently owe?
It’s a scary possibility, alright, but actually, it doesn’t have to be. Not when the IRS has the Fresh Start Program is in place to help taxpayers with back pays, and especially not when you have an IRS tax attorney guiding you throughout the entire process.
Fresh Start Program
In case you’re not aware, the IRS has put up the Fresh Start Program specifically with the objective of making it even just a bit easier for those folks who may have missed out on one or a few of their tax payments.
Under this program, the tax lien amount has been raised to $10,000. This means that any individual can owe the IRS up to this amount before they file a Notice of Federal Tax Lien. Just note that this does not preclude them from filing that notice even under $10,000, though.
Another benefit to this program is that you can now have better access to installment agreements. If you owe anywhere up to $50,000, then you can make use of the option to pay in installments within the next 72 months. That’s about six years’ worth of time to take care of everything that you need to do to clear your debt to the IRS.
There’s also the Offer in Compromise option wherein the taxpayer may seek relief from paying the full amount of their tax debt, and instead pay something lower. This can be complicated, though, so you should get IRS tax lawyers to help you deal with it.