IRS Fresh Start Program
Get a Fresh Start on Your Tax Debt
The IRS Fresh Start Program is a beacon of hope for individuals and businesses grappling with tax debt.
Designed to alleviate the burdens associated with outstanding balances, this program offers more flexible resolution options, thus paving the way for a smoother financial journey. By avoiding penalties and easing the tax burden, the Fresh Start Program enables taxpayers to regain control over their financial health.
Increased Tax Lien Threshold
One of the most significant changes within the Fresh Start Program is the increased threshold for when a tax lien can be filed. The IRS has raised the dollar amount, offering taxpayers much-needed breathing room before facing potential liens. This change allows individuals and businesses the chance to resolve their debts without the looming threat of aggressive measures and gives them time to explore payment options.
Streamlined Installment Agreements
Another remarkable aspect of the Fresh Start Program is the introduction of streamlined installment agreements. Taxpayers with debts up to $50,000 can now qualify for simplified installment plans. These agreements make it easier for taxpayers to pay off their tax balances over time, reducing the anxiety associated with lump-sum payments. This flexibility can significantly assist those who are working to manage their finances more effectively.
Offer in Compromise (OIC) Expansion
The Fresh Start Program’s expansion of the Offer in Compromise (OIC) option provides a lifeline for those seeking to settle their tax debts for less than the total amount owed. This program considers an individual’s current income and expenses, allowing taxpayers facing financial hardship to negotiate a more manageable tax resolution. For many, this presents an invaluable opportunity to eliminate tax debt that may seem insurmountable.
Who Can Benefit from the Fresh Start Program?
The IRS Fresh Start Program is ideal for individuals and small businesses that have fallen behind on their tax obligations. Those experiencing financial hardships such as unemployment, reduced income, or various economic challenges can greatly benefit from this initiative. It empowers taxpayers to tackle their tax issues without drowning in stress and anxiety.
Why Choose Us?
At Casement Group, LLC, we understand the complexities involved in tax debt resolution. Our team, led by licensed attorney and CPA James P. Casement, offers professional guidance tailored to your unique situation. With our expertise, we help clients navigate the Fresh Start Program effectively, ensuring they make informed decisions that align with their financial goals. This program is a chance for relief, and with our support, you can confidently take your first steps toward recovery.
Take the first step towards financial freedom today!