Back IRS Taxes – Different Options to Resolve your Back Tax Debt   1-866-700-1040

 
 
Through the new IRS fresh start program or fresh start initiative the Internal Revenue Service is trying to help those taxpayers with back IRS tax debt.
There are a new series of programs that IRS is offering that is helping thousands upon thousands of taxpayers to deal with their IRS debt in a more user-friendly way.
 
Millions of taxpayers owe back IRS taxes and IRS for years has been very keen on enforcement. As a matter of fact the IRS files 3.6 million tax levies and 980,000 federal tax liens each and every year.
 
If the taxpayer reaches out to the Internal Revenue Service before the IRS reaches out to them, taxpayers will find a very simple road to hoe.
If IRS reaches out first it becomes much more costly and much more lengthily and usually involves professional representation to resolve your IRS problem.
If you are looking for help for back IRS tax issue contact us today and speak directly to tax attorneys, certified public accountants, or former IRS agents who understand the issues that can explain the various options to you to help take care of back IRS taxes.
We can review with you your various options to completely and immediately resolved your IRS back tax debt.
 
 

 The Internal Revenue Service latest effort

 
 
In its latest effort to help struggling taxpayers, the Internal Revenue Service today announced a series of new steps to help people get a fresh start with their tax liabilities.
The goal is to help individuals and small businesses meet their tax obligations, without adding unnecessary burden to taxpayers.
Specifically, the IRS is announcing new policies and programs to help taxpayers pay back taxes and avoid tax liens.
 
 

The new changes include:

 
 
1. Significantly increasing the dollar threshold when liens are generally issued, resulting in fewer tax liens.
2. Making it easier for taxpayers to obtain lien withdrawals after paying a tax bill.
Withdrawing liens in most cases where a taxpayer enters into a Direct Debit Installment Agreement.
3. Creating easier access to Installment Agreements for more struggling small businesses.
4. Expanding a streamlined Offer in Compromise program to cover more taxpayers.
 
 

Home refinancing

 
This is another in a series of steps to help struggling taxpayers. In 2008, the IRS announced lien relief for people trying to refinance or sell a home. In 2009, the IRS added new flexibility for taxpayers facing payment or collection problems.
 
 

New Federal Tax Lien Thresholds

 
The IRS will significantly increase the dollar thresholds when liens are generally filed. The new dollar amount is in keeping with inflationary changes since the number was last revised.
Currently, liens are automatically filed at $10,000 levels for people with past-due balances.
The IRS plans to review the results and impact of the lien threshold change in about a year.
 

The federal tax lien

 
A federal tax lien gives the IRS a legal claim to a taxpayer’s property for the amount of an unpaid tax debt. Filing a Notice of Federal Tax Lien is necessary to establish priority rights against certain other creditors.
Usually the government is not the only creditor to whom the taxpayer owes money.
A lien informs the public that the U.S. government has a claim against all property, and any rights to property, of the taxpayer.
This includes property owned at the time the notice of lien is filed and any acquired thereafter.
A federal tax lien will affect a taxpayer’s credit rating, so it is critical to arrange the payment of taxes as quickly as possible. You loans
 
 

Federal Tax Lien Withdrawals

 
 
The IRS will also modify procedures that will make it easier for taxpayers to obtain lien withdrawals.
Liens will now be withdrawn once full payment of taxes is made if the taxpayer requests it. The IRS has determined that this approach is in the best interest of the government.
In order to speed the withdrawal process, the IRS will also streamline its internal procedures to allow collection personnel to withdraw the liens.
 

Direct Debit Installment Agreements and Liens

 
 
The IRS is making other fundamental changes to liens in cases where taxpayers enter into a Direct Debit Installment Agreement (DDIA).
For taxpayers with unpaid assessments of $25,000 or less, the IRS will now allow lien withdrawals under several scenarios:
Lien withdrawals for taxpayers entering into a Direct Debit Installment Agreement.
The IRS will withdraw a lien if a taxpayer on a regular Installment Agreement converts to a Direct Debit Installment Agreement.
The IRS will also withdraw liens on existing Direct Debit Installment agreements upon taxpayer request.
Liens will be withdrawn after a probationary period demonstrating that direct debit payments will be honored.
In addition, this lowers user fees and saves the government money from mailing monthly payment notices. Taxpayers can use the Online Payment Agreement application on IRS.gov to set-up with Direct Debit Installment Agreements.
 
 

Installment Agreements and Small Businesses

 
 
The IRS will also make streamlined Installment Agreements available to more small businesses. The payment program will raise the dollar limit to allow additional small businesses to participate.
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.
The 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.
Small businesses will need to enroll in a Direct Debit Installment Agreement to participate.
 
 

Offers in Compromise or Tax Debt Settlements

 
 
The IRS is also expanding a new streamlined Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers. You can find this form on our website.
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.
OICs are subject to acceptance based on legal requirements. An offer-in-compromise is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.
Generally, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.
You should also know to work a completed offer compromise is somewhere in the time range is 6 to 9 months.
This is a very slow process and it’s critical that taxpayers understand the importance of documentation and the correctness of the financial statement that they turned in to the IRS.
A taxpayer should not turning an offer in compromise until late every explored the pre-qualifier tool that you can find on our website.
 
Back IRS Taxes – Different Options to Resolve your Back Tax Debt