The Ultimate Guide To The Fresh Start Program: What Is It And Why Does It Exist?
The Fresh Start Program is a useful program that provides tax relief to taxpayers who owe money to the IRS. Created in 2011, it exists to help relieve the severe penalties the IRS puts on unpaid back taxes.
For most taxpayers, this relief initiative is their best shot at tax resolution. In fact, those who apply could get more than 90% of their taxes forgiven.
So, what are the Fresh Start Program eligibility requirements? And, more importantly, how do you apply?
Fresh Start Program Overview
Why Was The Fresh Start Program Invented?
Benefits Of The Fresh Start Program
- Help relieve financial stress for the taxpayer
- Allows taxpayers the opportunity to start over (provides an attainable way to pay off tax debt)
- Provides protection from the IRS (the IRS can’t take more than you can reasonably pay)
3 Main Fresh Start Programs
Offer In Compromise (OIC)
Installment Agreement (IA)
Currently Non-Collectible Status (CNC)
How To Qualify For The Fresh Start Program
- File all missing or unfiled tax returns
- Be current on estimated tax payments for the current tax year