What is the IRS Fresh Start Program?

What is the IRS Fresh Start Program?

What Do We Know About the IRS?

The IRS is the acronym for the Internal Revenue Service. It is a federal government body or agency established in 1862. The organization works under the authority and supervision of The United States of America’s Department of the Treasury.

The IRS had gotten set up by President Abraham Lincoln. Now, it gets managed by the Commissioner of Internal Revenue. The body primarily remains responsible for the collection of due taxes. In addition to that, it enforces and handles various laws related to them. The agency collects income taxes from the citizens and corporate offices.

Furthermore, the IRS remains involved with matters associated with employment taxes. Besides the mentioned work scope, the IRS handles estate, gift, and excise taxes. It consists of mutual funds and dividends.

Thus, the IRS’s responsibilities and duties remain associated with tax benefits and help or assistance to struggling and troubled taxpayers. The former includes programs such as the Affordable Care Act. Moreover, the organization pursues cases of illegal undertakings or erroneous and fraudulent tax fillings.

What Do We Know About the IRS Fresh Start Program?

The IRS Fresh Start Program refers to the collection of broad scope and range of concepts related to debt relief. The IRS offers them to troubled taxpayers when they meet specific criteria and conditions. The plan comes with unique systems and designs that make it undemanding and more convenient for the target audience to relieve themselves from troubling situations.

Overall, the IRS Fresh Start Program helps taxpayers free themselves from the pressure and influence imposed on them by tax debts. Furthermore, the plan deals with the penalties that come with undue tax payments in a legal way.

On top of that, the IRS Fresh Start Program allows taxpayers to reduce or freeze their debt. Furthermore, they have the choice or option to delay the time by which they need to pay the amount back if they meet specific conditions. Some other schemes of the program provide feasible ways and opportunities to pay back the tax amount in smaller units. In other words, an individual can settle their debt in comparatively lesser amounts over an extended timeline. However, the increased timespan is not flexible. Instead, it remains fixed depending on particular parameters.

Hence, the IRS Fresh Start Program represents an amalgamation of the several changes or alterations made to the USA’s initial tax code. The modifications got done in the best interest of the taxpayers, allowing the pressure on them to decrease by a considerable margin. The relief and repayment options offered by the IRS Fresh Start Program remain available at varying levels. It implies that an individual can seek help for matters related to taxes catered to their unique situation. Generally, the aidprovided depend on an applicant’s financial condition and situation.

What Was the Initial Objective When the IRS Fresh Start Program Got Launched?

The IRS Fresh Start Program had gotten launched and offered to the public in 2011 with specific intentions and goals. The plan primarily aimed to aid troubled taxpayers. It sought to help them acquire a suitable and stable income and financial source. It, in turn, would allow them to get a sufficient and appropriate standing in life.

The IRS Fresh Start Program strives to promote reasonable and legal repayment options to troubled taxpayers. It aims to offer them other feasible ways instead of ordaining or enacting strict penalties and punishments. In other words, the plan provides a way out to the taxpayers, enabling them to pay back the due amount in better conditions. It, in turn, helps them avoid jail time, liens, levies, and undesirable wage decreases and garnishments.

Although the IRS Fresh Start Program offers all these helpful and valuable methods and processes to troubled taxpayers, the agency does not cut down its benefits. It implies that it implements and provides various beneficial and constructive schemes to eligible individuals. Thus, the taxpayers and the IRS benefit from the program. The latter gets to obtain and collect their due share and not remain at any disadvantage.

The schemes provided by the IRS Fresh Start Program consist of the following:

  • Installation Agreement (IA)
  • Currently Non-Collectible (CNC)
  • Offer in Compromise (OIC)
  • Penalty Abatement

What Does the Process of Applying for the IRS Fresh Start Program Entail?

Not just anyone can apply and qualify for the IRS Fresh Start Program. They need to meet specific conditions and satisfy them to do so. The list of the required eligibility criteria gets released by the IRS. Furthermore, it gets updated any time a change gets incorporated and added.

The list mentions all the specifications associated with each relief plan and option mentioned in the IRS Fresh Start Program. An individual can find it on the IRS’s website and download it. They can apply for the scheme that matches their situation if they find and conclude that they meet the necessary criteria.

After checking and matching the criteria, an individual can download and fill out the application form. After that, the process progresses in a single direction with no curves or turns. It implies that the scope or chances of confusion get eliminated.

The applicants must fill out the form and attach the required documents after thoroughly reading the requirements. They should answer all the questions honestly and without error. In addition, they must provide proof of each statement.

Double-checking and sincere form filling is essential. It is because an applicant’s application can get rejected. It happens if the IRS discovers any discrepancies between the mentioned or answered statements and the provided proofs.

The process can become arduous for people having no prior knowledge of the matter, leading to them making errors at some point. Thus, an individual can seek the guidance and help of a tax professional. The latter can aid in making the process significantly effortlessly and less confusing. In addition, the experts can ensure all the necessary guidelines get followed so that the applicant can get the scheme that matches their situation.


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