If you have ever had a tax bill you couldn’t afford to pay, don’t be swayed by false ads promising “total IRS debt forgiveness.” In most cases, complete forgiveness of tax liability — except in the case of bankruptcy — is unlikely. But don’t think that you’re out of options just yet.
The IRS Fresh Start program makes it easier for taxpayers to pay back taxes and avoid tax liens. Even small business taxpayers may benefit from Fresh Start.
. The IRS wants to collect its tax debt. And if you owe a large sum, they especially want to bring that money in. Sure, they aren’t paid on commission, but this is their job, and, probably like all of us, they are held to certain marks and standards.
When he came to Direct Tax Relief, James* was in IRS debt to the tune of over $118,000 in back taxes, fees, and penalties. DTR immediately filed a settlement offer on James’ behalf.
It was announced by the Internal Revenue Service on February 24, 2014 (IR-2014-18) that the Criminal Investigation Division (CI) has released its Annual Report for Fiscal Year 2013 (IRS-CI Fiscal Year 2013 Annual Business Report).
The Internal Revenue Service Data Book (Publication 55B issued March, 2013) for the Fiscal Year, 2012 noted that for the fiscal year (October 1, 2011, through September 30, 2012) the number of offers submitted rose 8% from 59,000 in the fiscal year 2011 to 64,000 for the fiscal year 2012.
The Internal Revenue Service (IRS) announced another expansion of its “Fresh Start” program by offering more flexible terms to its Offer in Compromise (OIC) program designed to help financially distressed taxpayers resolve tax problems more quickly.
An Offer in Compromise is a formal agreement between a taxpayer and the IRS that settles the taxpayer’s debt for less than the full amount owed.