IRS Fresh Start Initiative - In 2011, the IRS announced a new
program, called the Fresh Start Initiative, to help distressed taxpayers. The
IRS adjusted its lien policies, increased the dollar threshold when liens are
generally issued, made it easier for taxpayers to obtain lien withdrawals, and
extended the streamlined offer-in-compromise program. Previously, the IRS
had given its employees greater authority to suspend collection actions in
certain hardship cases where taxpayers are unable to pay. This includes
instances where a taxpayer has recently lost a job, is relying solely on Social
Security, or is paying significant medical bills.
If you are experiencing hardship, the most important thing you can do is to remain in compliance with your tax obligations. If you owe back taxes, now is the time to pay them, if possible, or enter into an installment agreement, if you qualify, with the IRS. The IRS wants to see you making a good faith effort to pay your taxes. In this process ABA Tax Accounting can assist you! For a Free Consultation call or email:
ABA Tax Accounting
Amare Berhie, Senior Tax Advisor
612-282-3200
Toll free 866-936-0430
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