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IRS Fresh Start Program

IRS Fresh Start Tax Program

IRS Fresh Start Program


The IRS Fresh Start program is a vital initiative designed to assist individuals and small businesses struggling with outstanding tax debts. Launched to alleviate the burden of tax liabilities and make it easier for taxpayers to regain financial stability, the Fresh Start program offers flexible payment options and a more forgiving approach to tax debt resolution. By simplifying the process and reducing the penalties, the program aims to make it possible for more taxpayers to manage their debts effectively, helping them avoid severe consequences like tax liens.

Among the benefits of the Fresh Start program are the ability to spread payments over a longer duration through an installment agreement, the reduction of penalties, and the possibility of settling tax debts for less than the full amount owed under the Offer in Compromise (OIC) option. These measures are intended not only to ease the financial strain on individuals and businesses but also to encourage compliance with tax laws and ensure that taxpayers can maintain their financial footing without overwhelming tax burdens.

Qualifications for the IRS Fresh Start program include:

  • Owing $50,000 or Less: Taxpayers must owe $50,000 or less in combined tax, penalties, and interest, and be able to pay their debt in full within six years.

  • Compliance with Filing Requirements: All required tax returns must have been filed.

  • Direct Debit Payments: For an installment agreement, taxpayers must agree to monthly direct debit payments.

  • Employment Tax Deposits: Businesses must be current on federal employment tax deposits.

  • No Major Defaults: No defaults on previous installment agreements or OICs.

  • Individual Taxpayer Identification Number (ITIN): Taxpayers must have a valid ITIN or Social Security number.

Contact Attorney Wagman to discuss exempt assets and decide if this program is right for you and your financial future.

Always consult an attorney to help guide you on the right type of bankruptcy for you. Attorney Gregg Wagman has been a trusted advisor to individuals facing bankruptcy for over 30 years.

You are not alone. Watch our free video webinar to help decide if bankruptcy, or which type of bankruptcy, is right for you.

Call us at 860-444-0100

  • Can a debt collector call me at work?
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    Know the law and use the law. You may not know all of your rights. Do not give any information and contact and attorney right away. Here are some free tips on some of your rights.

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Notice Required by 11 U.S.C. U.S.C. § 342(b) for Individuals Filing for Bankruptcy (Form 2010)

"Because bankruptcy can have serious long-term financial and legal consequences, including loss of your property, you should hire an attorney and carefully consider all of your options before you file. Only an attorney can give you legal advice about what can happen as a result of filing for bankruptcy and what your options are. If you do file for bankruptcy, an attorney can help you fill out the forms properly and protect you, your family, your home, and your possessions.

Although the law allows you to represent yourself in bankruptcy court, you should understand that many people find it difficult to represent themselves successfully. The rules are technical, and a mistake or inaction may harm you. If you file without an attorney, you are still responsible for knowing and following all of the legal requirements.

You should not file for bankruptcy if you are not eligible to file or if you do not intend to file the necessary documents.

Bankruptcy fraud is a serious crime; you could be fined and imprisoned if you commit fraud in your bankruptcy case. Making a false statement, concealing property, or obtaining money or property by fraud in connection with a bankruptcy case can result in fines up to $250,000, or imprisonment for up to 20 years, or both. 18 U.S.C. §§ 152, 1341, 1519, and 3571."

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