The people who call us at Flat Fee Tax Service are usually anxious, frightened, and facing an IRS Levy on their paycheck.
More taxpayers will have access to an IRS Settlement via the Offer in Compromise program, which will allow taxpayers to pay less than the full amount of their bill. Under the Fresh Start Initiative, tax settlements via the Offer in Compromise program (OIC) will be available to people with an annual income of up to $100,000 will be eligible, up from $50,000 before.
Also, the IRS will allow taxpayers to continue making their car payments, rather than counting that money as part of the taxpayer’s assets considered available for the unpaid tax debt.
There are many new rules that are advantageous to receiving an IRS settlement (#OfferinCompromise) for taxpayers who are struggling financially.