Looking for tax relief in Palm Beach? Learn about the 2022 IRS Fresh Start Program in this blog post. Get expert guidance from Palm Beach Tax Relief today!
The IRS Fresh Start Program has been around for a few years now, but many people are still unfamiliar with it. If you owe back taxes to the IRS, the Fresh Start Program may be able to help you get relief. In this post, we’ll go over what the 2022 IRS Fresh Start Program is, how to qualify for it, how to get your IRS debt forgiven, and whether it can hurt your credit.
What is the 2022 IRS Fresh Start Program?
The IRS Fresh Start Program is a program that offers taxpayers who owe back taxes a way to settle their debt for less than they owe. The program was designed to help people who are struggling to pay their taxes due to financial hardship. There are a few different options available through the Fresh Start Program, including:
- Installment agreements: This option allows you to pay your debt over time in monthly payments.
- Offers in compromise: This option allows you to settle your debt for less than you owe.
- Penalty abatement: This option allows you to have some or all of your penalties waived.
How do I qualify for IRS Fresh Start?
To qualify for the 2022 IRS Fresh Start Program, you must meet certain eligibility requirements. These requirements include:
- Owning less than $250,000 in back taxes, penalties, and interest
- Being current on all tax returns
- Being current on all estimated tax payments (if you are self-employed)
If you meet these requirements, you may be eligible for one of the Fresh Start Program options.
Is there really an IRS Fresh Start program?
The IRS Fresh Start program exists! Since 2011, this program has been helping taxpayers like you settle their tax debt and get back on track. However, not everyone will qualify for the program, so it’s best to check with the IRS to see if you’re eligible. Don’t hesitate to reach out and see if the IRS Fresh Start Program can help you with your tax situation.
How do I get my IRS debt forgiven?
If you qualify for the 2022 IRS Fresh Start Program, you may be able to get your IRS debt forgiven. However, it’s important to note that not everyone will qualify. The IRS will consider your ability to pay, your income, your expenses, and your assets when determining whether to accept your offer.
How much is the IRS Fresh Start Program?
The cost of the 2022 IRS Fresh Start Program will vary depending on the option you choose. If you choose an installment agreement, you may have to pay a setup fee and a monthly fee. If you choose an offer in compromise, you will have to pay an application fee and a percentage of your offer amount. It’s important to note that these fees are non-refundable, even if your offer is not accepted.
Does the IRS Fresh Start Program hurt your credit?
No, participating in the 2022 IRS Fresh Start Program should not hurt your credit. However, it’s important to note that if you have other unpaid debts or delinquent accounts, those could still impact your credit. If you’re unsure about how the Fresh Start Program will impact your credit, you can talk to us and we’ll figure things out together.
Get help from the professionals
If you owe back taxes to the IRS, the 2022 IRS Fresh Start Program may be able to help you get relief. To see if you qualify for the program, contact Palm Beach Tax Relief today! We can help you determine which option is best for your situation and guide you through the application process.