IRS and the Fresh Start Initiative
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IRS and the Fresh Start Initiative PowerPoint PPT Presentation

We all know that we have an obligation with the Internal Revenue Service or IRS, and that is to pay our Taxes. Although we are aware that it is an obligation, yet there are times that we cannot pay the entire amount because of some valid reasons, such as unemployment, and we end up having a tax debt to the IRS. That’s why the Internal Revenue Service rolled out its Fresh Start Initiative in February 2011. Their aim is to provide IRS tax relief to struggling taxpayers and unemployed. The Fresh Start Initiative also offers a different installment structure that allows taxpayers to avoid financial reviews and Federal Liens.

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IRS and the Fresh Start Initiative

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IRS and the Fresh Start Initiative

We all know that we have an obligation with the Internal Revenue Service or IRS, and that is to pay our Taxes.

Who are Qualified for the Fresh Start Initiative?

● Unemployed for a minimum of 30 consecutive days

● For married couples who are filing jointly, only one spouse is needed to meet the qualifications.

● For self-employed individuals, they need to show at least 25 percent drop in their net income to qualify,

axpayers earning should not be more than $200, 000 per year for married couples,

or $100, 00 per year each person, if single or head of household.

● Taxpayers whose tax balance was $50,000 or below.

Taxpayers need to file manually the Form 1127A.

Choose a tax relief company that is credible

FSI-DIY’s Fresh Start Initiative Process:

1. Understand taxpayer’s option available to resolve the tax debt issue.

2. Taxpayers must make sure that they qualify for the Fresh Start Initiative with the Internal Revenue Service.

3. If qualified, then register FSI-DIY service.

4. Taxpayers must gather their financial information.

5 Create Fresh Start Initiative package.

6. Submit the created Fresh Start Initiative package to the IRS.

7. Complete payment to the IRS according to what is in taxpayers’ Fresh Start Initiative package schedule.

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