Fresh Start Tax: New IRS Program

Fort Lauderdale, Florida Feb 28, 2011 (Marketwire)

Fresh Start Tax, LLC announces the New IRS Fresh Start Program. 

The IRS wants to give taxpayers a Fresh Start, announcing on February 24th, major changes to the federal lien policies. The decades old policies are being revised to help taxpayers with the unnecessary burdens of having their credit ruined by the filing of the federal tax liens. Michael Sullivan and Steven Jacob commented and said, “It’s about time the Feds finally did something to help taxpayers. For years they have been financially killing them.”

IRS will significantly increase the dollar thresholds when tax liens are generally filed.

IRS is making other fundamental changes to tax liens in cases where taxpayers enter into a Direct Debit Installment Agreement. For taxpayers with unpaid assessments of $25,000 or less, the IRS will now allow tax lien withdrawals under several scenarios:

IRS will withdraw a tax lien if a taxpayer on a regular Installment Agreement converts to a Direct Debit Installment Agreement. They will also withdraw tax liens on existing Direct Debit Installment agreements upon taxpayer request after a probationary period demonstrating that direct debit payments will be honored.

Small businesses with $25,000 or less in unpaid tax can participate. Currently, only small businesses with under $10,000 in liabilities can participate. Small businesses will have 24 months to pay.

Streamlined Installment Agreements will be available for small businesses that file either as an individual or as a business. Small businesses with an unpaid assessment balance greater than $25,000 would qualify for the streamlined Installment Agreement if they pay down the balance to $25,000 or less.

IRS is also expanding a new streamlined Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers.

This streamlined OIC is being expanded to allow taxpayers with annual incomes up to $100,000 to participate. In addition, participants must have tax liability of less than $50,000, doubling the current limit of $25,000 or less.

Additional Resources:

About Fresh Start Tax, LLC
Fresh Start Tax, LLC is a tax resolution company specializing in IRS problems such as; tax liens, wage garnishment, IRS levy, unfiled taxes, back taxes and other IRS tax help.

Contact:
Fresh Start Tax, LLC
Stacy Spencer

3696 N. Federal Highway
Suite 301
Fort Lauderdale, Florida 33308

Phone:
Fax: 954-938-0069
stacy@freshstarttax.com

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Fresh Start Tax provides solutions to your IRS Tax Problems in South Florida including the Palm Beach, Broward and Miami-Dade Counties and the cities of:
Miami, Fort Lauderdale, West Palm Beach, Weston, Plantation, Boca Raton, Delray Beach, Hallandale, Deerfield, Pompano

Now providing Tax Solutions to Highlands County including Sebring

*Mr. Sullivan has been in private practice since 1982 in South Florida which gave roots to Fresh Start Tax LLC.
The firm began as Sullivan & Powell PA and through the years transitioned to its now current form.

All attorneys are retained by separate engagement on all tax cases to maintain attorney client privilege.
They have the option if retaining fresh Start tax LLC by engagement or on certain cases by use of a Koval letter.
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Anthony M. Verni is admitted to practice law in the state of New Jersey and licensed as a certified public accountant in the state of Illinois.
Ed Vecchio and Scott Szaro are no longer with the company and are pictured on our site.

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