The IRS launched the groundbreaking “Fresh Start Initiative” in 2013, aiming to aid taxpayers in achieving tax compliance and finding resolutions for their tax debts.
At Sterbick & Associates, our adept tax team is well-acquainted with the expanded provisions of the Fresh Start program. We can evaluate your eligibility for these measures and help you harness their full benefits.
From our office in Tacoma, Washington, we proudly assist individuals and businesses nationwide, providing expert tax resolution services.
Explore the Fresh Start Initiative
The Fresh Start Initiative encompasses four pivotal pillars that can significantly reshape your tax situation:
Tax liens: The Fresh Start Initiative raised the threshold for tax liens. The IRS won’t file a Notice of Federal Tax Lien until your tax debt hits $10,000 (with certain exceptions), allowing crucial time to negotiate back taxes. Our skilled team can aid in preventing and discharging tax liens, safeguarding your assets.
Penalty relief: Individuals who faced unemployment or experienced a substantial income decrease may qualify for a penalty relief grace period. Eligible taxpayers may receive an additional six months to fulfill their tax obligations, including interest. We possess extensive knowledge of IRS penalty abatement and can address your queries.
Installment agreements: The Fresh Start Initiative simplifies setting up payment plans for resolving back taxes. You might benefit from extended payment terms, with the tax owed threshold raised to $50,000. Our team can navigate IRS installment agreements, offering a viable solution to your tax challenges.
Offer in Compromise (OIC): If paying off your tax debt in a lump sum or installments isn’t feasible, an Offer in Compromise can be a lifesaver. The Fresh Start Initiative relaxed certain rules, expanding eligibility for this debt settlement option. Our attorneys have secured favorable terms for clients, even for those previously deemed ineligible.
Embrace a Fresh Start
We are committed to aiding clients nationwide in resolving tax disputes and burdens.
Whether you’re in Pierce County or beyond, the Fresh Start Initiative can herald a brighter financial future. Seize this chance for a new beginning.
Take charge of your tax situation now.
