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What is a "fresh start" when it comes to tax debt? It isn't as easy to get as high-priced tax relief outfits or "offer in compromise mills" suggest.
In 2004, the IRS issued a consumer alert warning of promoters' claims to settle debts for "pennies on the dollar" through the OIC program. [4] The warning addressed companies charging high fees to consumers who may not be eligible for the program; all other payment means would have to be exhausted, including installment payments.
How to Settle with the IRS by Yourself: Practical Steps to Resolve Your Tax Debt If you're facing IRS tax debt, you're not alone. In 2023, the IRS collected over $104.1 billion in unpaid ...
The IRS Fresh Start program or Fresh Start initiative was established in 2011 to help eligible taxpayers manage past-due tax debts. The program is designed to aid people who don’t have a prior ...
2. Make an Offer in Compromise. If financial hardship prevents you from paying the full amount owed, you can apply for an offer in compromise. This is a negotiation with the IRS to pay less than ...
Tax debt relief is a way the government helps you when you can’t afford to pay your tax bill. This comes in the form of a payment plan or a settlement in which the IRS agrees to settle your tax ...
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