If someone owes less than fifty-thousand dollars to the IRS the beauty of the Fresh Start Program really starts to shine.
Costa Mesa, CA (PRWEB) September 05, 2012
As of May 2012 the IRS has released their new streamlined method of handling Offer and Compromises (OIC’s) and Installment Agreements. This new program called the “Fresh Start Program”, allows delinquent taxpayers and their representatives to submit OIC’s and Installment Agreements to the IRS with a much more promising outcome. Since May of 2012 the IRS has accepted a greater percentage of OIC’s submitted then it did before. As a result, certified professionals who deal with the IRS on a daily basis have been happy to recommend clients to utilize the Fresh Start Program. If someone owes less than fifty-thousand dollars to the IRS the beauty of the Fresh Start Program really starts to shine. For instance, the IRS has made it easier to set up an Installment agreement. According to Ideal Tax Solution, the IRS has gone from accepting only fifteen percent to a whopping forty percent of OIC’s submitted. Also the IRS has changed their calculations of a taxpayer’s income versus expenses so that most offers can be accepted for lower amounts. Prior to the Fresh Start Program the IRS used to multiply the taxpayer’s disposable income by 48 or 72 months, depending on the payment plan option chosen. Now with the Fresh Start program the IRS will multiply the taxpayer’s disposable income by 12 or 24 months. Therefore the IRS has given delinquent taxpayers the chance to settle their debt with a lower minimum offer amount. The Fresh Start Program emphasizes greatly on helping people with lower liabilities. If someone with a liability at or below twenty-five thousand, no financials or required and the taxpayer would be expected to pay off their debt in a 6 year plan. Having the Fresh Start Program an option for clients has made the resolution process for certified professionals a less stressful and a much more rewarding experience.
Because of the increased likelihood of success in a client’s case, Ideal Tax Solution has encouraged their tax professionals to use the reaping benefits of the Fresh Start Program. Not only does it streamline working with the IRS but it also reduces the timeframe worked on a case. Reducing the projected time frame of completion for clients is a huge plus. Less time spent on each case means a lower cost to the client. Ideal Tax Solution has announced plans to support the Fresh Start program as long as it is still offered by the IRS.
About the company:Ideal Tax Solution, LLC is located in Costa Mesa, CA and provides tax negotiation services, preparation and is a collection defense specialist. Their Tax Attorneys, IRS Enrolled Agents, CPA's, Senior Tax Consultants have over 55 years of combined experience working to help American taxpayers with the IRS and State Tax Agencies.