{"id":2463987,"date":"2023-05-02T21:20:06","date_gmt":"2023-05-03T01:20:06","guid":{"rendered":"https:\/\/www.valuewalk.com\/?p=2463987"},"modified":"2023-05-03T22:01:34","modified_gmt":"2023-05-04T02:01:34","slug":"google-searches-for-irs-fresh-start-program-requirements-have-surge-by-566","status":"publish","type":"post","link":"https:\/\/www.valuewalk.com\/google-searches-for-irs-fresh-start-program-requirements-have-surge-by-566\/","title":{"rendered":"Google Searches For &#8220;IRS Fresh Start Program Requirements&#8221; Surge By 566%"},"content":{"rendered":"\n<p><em>US Google searches for \u201cIRS Fresh Start Program requirements\u201d have surged by 566% over the past week, as struggling taxpayers are looking for ways to manage and relieve debt.&nbsp;<\/em><\/p>\n\n\n\n<p>The IRS Fresh Start program aims to relieve <a href=\"https:\/\/www.valuewalk.com\/2023-tax-tips-from-a-retired-tax-accountant\/\">debt collections<\/a> for payments such as financial penalties and tax liens, often used by Federal Government to punish individuals or small businesses with outstanding tax debts.&nbsp;<\/p>\n\n\n\n<p>However, there are certain requirements a person or business must have met to be eligible for taking advantage of the IRS Fresh Start program.&nbsp;&nbsp;<\/p>\n\n\n\n<p>For those looking to enrol, Tax Relief Professionals at <a href=\"https:\/\/www.idealtax.com\/faq\/who-qualifies-for-the-irs-fresh-start-program\/\" rel=\"nofollow\" target=\"_blank\">Ideal Tax<\/a> highlight how the IRS Fresh Start Program works, the eligibility criteria and why people should avoid using tax debt relief companies.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How Does The IRS Program Work?&nbsp;<\/h2>\n\n\n\n<p>The Fresh Start Initiative is not a singular tax relief program, it is a set of resolution options that allow individuals and small businesses pay their debts in manageable ways.&nbsp;<\/p>\n\n\n\n<div class=\"ca-widget\" data-token=\"i95ddd011e3f\"><\/div><script async=\"\" defer=\"\" src=\"https:\/\/secure.money.com\/embeds\/embedder.js?v=1\"><\/script>\n\n\n\n<p>There are <a href=\"https:\/\/www.idealtax.com\/faq\/who-qualifies-for-the-irs-fresh-start-program\/\" rel=\"nofollow\" target=\"_blank\">four forms of options<\/a> within the IRS fresh start program for tax debt relief. These include: the offer in compromise (OIC), instalment agreements, currently non-collectible, and penalty abatement.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Am I Eligible For The IRS Fresh Start Program?&nbsp;<\/h2>\n\n\n\n<p>There are certain qualifications a person needs to have to participate in the IRS Fresh Start Program.&nbsp;<\/p>\n\n\n\n<p>Eligibility for the fresh start program must meet the following criteria:<\/p>\n\n\n\n<ul>\n<li>For sole proprietors \u2013 Income has dropped by 25%.&nbsp;<\/li>\n\n\n\n<li>Annual income is below $100,000. (single)&nbsp;<\/li>\n\n\n\n<li>You have an annual income of less than $200,000 (married). You owe less than $50,000 in tax debt.&nbsp;<\/li>\n\n\n\n<li>Taxpayers who have a clean history with zero missed payments with the IRS.&nbsp;<\/li>\n\n\n\n<li>Collection Information Statements such as Form 433 is a financial documentation with your income and expenses. The IRS uses this to determine your eligibility&nbsp;<\/li>\n\n\n\n<li>Be able to pay the tax liability within 60 months or before collection statutes expire&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>A spokesperson for Tax Relief Professionals at <a href=\"https:\/\/www.idealtax.com\/faq\/who-qualifies-for-the-irs-fresh-start-program\/\" rel=\"nofollow\" target=\"_blank\">Ideal Tax<\/a> says,&nbsp;&nbsp;<\/p>\n\n\n\n<p><em>\u201cThe IRS has forgiven millions of Americans, giving them financial freedom from tax debt.<\/em>&nbsp;<\/p>\n\n\n\n<p><em>\u201cWhilst certain criteria need to be met to qualify, the Initiative can be extremely beneficial in helping to prevent debt worsening.<\/em>&nbsp;<\/p>\n\n\n\n<p><em>\u201cIf an individual or business with substantial debt does not participate, the consequences can be severe, resulting in various penalties and interest fees. Additionally, taxpayers could be subjected to wage garnishments and liens.<\/em>&nbsp;<\/p>\n\n\n\n<p><em>\u201cOne thing that is important to add is to qualify for the Fresh Start initiative, you must be current on your tax filings with the correct withholding amount.&nbsp;<\/em>&nbsp;<\/p>\n\n\n\n<p><em>\u201cGetting assistance from a licensed tax professional is recommended for both getting your filings in line and negotiating with the <a href=\"https:\/\/www.valuewalk.com\/messy-money-9-ways-to-avoid-a-tax-audit-when-getting-divorced\/\">IRS<\/a>.<\/em>&nbsp;<\/p>\n\n\n\n<p><em>\u201cWith several different programs on offer, it is imperative to pick the program that best suits your financial situation.\u201d<\/em>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why Should I Avoid Using Tax Debt Relief Companies?&nbsp;<\/h2>\n\n\n\n<p>The biggest risk of utilizing a tax debt relief company is not successfully resolving your IRS debt.&nbsp;<\/p>\n\n\n\n<p><em>\u201cThere are many scams out there that take advantage of unknowing people who are stressed about their tax issues, such as their credit card debt, trouble with mortgages, student loans, or filing for bankruptcy.<\/em>&nbsp;<\/p>\n\n\n\n<p><em>\u201cA red flag to look out for when you research or Google which sites you should use to help is if they lack positive reviews. Additionally, if a company makes drastic claims about how much cash it can save you and fails to mention a disclaimer about the eligibility requirements for IRS tax relief, you should question the agency\u2019s legitimacy.&#8221;<\/em><\/p>\n\n\n\n<p>Instead of providing tax help, the wrong tax company can add insult to injury and make your tax problems worse, so it is important that clients know their rights and conduct thorough research when seeking professional help with the navigation of tax relief.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The cost of how much a tax relief company charges is also an important factor to consider.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Some tax debt relief companies charge a percentage of the total tax debt, such as 10% to 20%, whereas others charge a flat fee, such as $1,000, so it is beneficial to compare this statistic when choosing a tax relief company.&nbsp;&nbsp;<\/p>\n ","protected":false},"excerpt":{"rendered":"<p>US Google searches for \u201cIRS Fresh Start Program requirements\u201d have surged by 566% over the past week, as struggling taxpayers &#8230; <a title=\"Google Searches For &#8220;IRS Fresh Start Program Requirements&#8221; Surge By 566%\" class=\"read-more\" href=\"https:\/\/www.valuewalk.com\/google-searches-for-irs-fresh-start-program-requirements-have-surge-by-566\/\" aria-label=\"More on Google Searches For &#8220;IRS Fresh Start Program Requirements&#8221; Surge By 566%\">Read more<\/a><\/p>\n","protected":false},"author":2476,"featured_media":2463988,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[383],"tags":[665144,665145,663754],"states":[],"acf":[],"modified_by":"Umair Tariq","_links":{"self":[{"href":"https:\/\/www.valuewalk.com\/wp-json\/wp\/v2\/posts\/2463987"}],"collection":[{"href":"https:\/\/www.valuewalk.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.valuewalk.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.valuewalk.com\/wp-json\/wp\/v2\/users\/2476"}],"replies":[{"embeddable":true,"href":"https:\/\/www.valuewalk.com\/wp-json\/wp\/v2\/comments?post=2463987"}],"version-history":[{"count":4,"href":"https:\/\/www.valuewalk.com\/wp-json\/wp\/v2\/posts\/2463987\/revisions"}],"predecessor-version":[{"id":2464113,"href":"https:\/\/www.valuewalk.com\/wp-json\/wp\/v2\/posts\/2463987\/revisions\/2464113"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.valuewalk.com\/wp-json\/wp\/v2\/media\/2463988"}],"wp:attachment":[{"href":"https:\/\/www.valuewalk.com\/wp-json\/wp\/v2\/media?parent=2463987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.valuewalk.com\/wp-json\/wp\/v2\/categories?post=2463987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.valuewalk.com\/wp-json\/wp\/v2\/tags?post=2463987"},{"taxonomy":"states","embeddable":true,"href":"https:\/\/www.valuewalk.com\/wp-json\/wp\/v2\/states?post=2463987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}