< iframe width="480" elevation="320" src="https://www.youtube.com/embed/VwT90RIQ4BM?rel=0" frameborder="0" allowfullscreen >< img style="float: left; margin:0 5px 5px 0;" src="http://taxdr.org/wp-content/uploads/2021/05/YErSVm.jpg"/ > In April of 2013, the Internal Revenue Service presented a brand-new program to make it much easier for taxpayers to pay back tax obligations as well as prevent tax liens called the Fresh Begin program. This program has three vital attributes that you need to learn about: tax liens, installation agreements, and also supplies in compromise. Each circumstance is various, so to read more information, see this short video clip. http://taxresolutionscpa.blogspot.com/2016/07/the-irs-fresh-start-program.html Thomas E Scott Certified Public Accountant Tax Resolutions Expert 145 E University Blvd . Tucson, AZ 85705. ( 800) CPA-4005. [email protected]. TaxResolutionsCPA.com. TRANSCRIPTION:. In April of 2013, the Internal Revenue Service introduced a brand-new program to make it simpler for taxpayers to repay tax obligations and prevent tax liens. Individuals and local business taxpayers might gain from the Internal Revenue Service Fresh Begin program. There are 3 important functions that you require to understand. First of all, you need to think about the tax obligation liens. The Clean slate program enhanced the quantity that taxpayers can owe prior to the IRS generally will submit a Notification of Federal Tax Lien. That amount is currently $10,000. Nonetheless, sometimes the Internal Revenue Service may still file a lien notice on amounts less than $10,000. When a taxpayer satisfies specific requirements and also repays their tax financial debt, the IRS might currently take out a submitted Notification of Federal Tax Lien. You need to request this in writing utilizing Kind 12277, Application for Withdrawal. Some taxpayers might qualify to have their lien notification taken out if they are paying their tax obligation financial obligation via a straight debit installment contract. You also require to request this in creating by utilizing Type 12277. If you fail on a direct debit installation agreement, the IRS may file a new Notification of Federal Tax obligation Lien and also resume collection actions. Don't ever before miss out on a payment. Successive are installment arrangements. The Fresh Begin program broadened access to structured installment arrangements. Now if you owe as much as $50,000, you can pay via month-to-month straight debit payments for up to 6 years. While the Internal Revenue Service usually will not require an economic statement, they may need some monetary information from the taxpayer. The simplest method to apply for a repayment strategy is to make use of the online repayment arrangement device at IRS.gov. If you do not have web access, you may file Type 9465 to use. If you want an installation agreement for even more than $50,000 in tax obligation financial debts or for longer than 6 years, you still require to provide the IRS with a financial statement. In these situations, the Internal Revenue Service might ask for either types: Form 4330A, the collection information declaration, or Type 433-F. Ultimately, you should be conscious of deals in compromise. A deal in compromise is a contract that allows taxpayers to settle their tax financial debt for less than the total. New beginning broadened and streamlined the OIC program. The IRS currently has more adaptability when analyzing a taxpayer's capacity to pay and also ultimately lowers the quantity the Internal Revenue Service will certainly approve. This makes the deal program offered to a larger group of taxpayers. Usually, the IRS will certainly accept an offer if it represents the most the firm can expect to collect within a practical duration of time. The Internal Revenue Service will certainly decline a deal if it thinks that the taxpayer can pay the amount owed in full as a swelling sum or through a settlement agreement. The Internal Revenue Service considers numerous aspects, including your earnings as well as properties, to choose regarding your capacity to pay. You can use the offer in concession pre-qualifier tool on IRS.gov to see if you might be qualified for an OIC. We can aid you negotiate with the Internal Revenue Service to obtain you the most affordable quantity you have to pay. If you have any type of tax issues, please offer me a phone call or send me an e-mail. I would certainly enjoy to assist you!