David P. Sinclair - Tax Prepe and Accounting Services

Back Taxes: Settle Tax Debt and IRS Problems

Haven't filed your taxes for a few years? Now is the time to get caught up on income tax filings that are overdue. File past due income tax returns now, it is never too late and the sooner filed, the sooner back tax issues will be resolved.

Overview of IRS Fresh Start Initiative
In early 2011, the IRS announced new efforts to help some taxpayers get a "fresh start" and made major changes in the process it uses to place a lien on taxpayers' property. The goal, according to the IRS, was to help individuals and small businesses meet their tax obligations, without adding unnecessary burden to the taxpayers. "We are making fundamental changes to our lien system and other collections tools that will help taxpayers and give them a fresh start," IRS Commissioner Doug Shulman said at the time. "These steps are good for people facing tough times, and they reflect a responsible approach for the tax system."

The announcement centered on the IRS making important changes to its lien filing practices that will lessen the negative impact on taxpayers. The changes included expanding a streamlined Offer in Compromise program to cover more taxpayers. In May of 2012, the IRS again expanded some of the provisions of the Fresh Start program by offering more flexible terms to its Offer in Compromise program that will enable some of the most financially distressed taxpayers to clear up their tax problems and in many cases more quickly than in the past.

Expanded payment plans and Offer in Compromises' are becoming easier to achieve and easier to pay. The IRS and MA DOR will continue the collections process and penalties and interest will continue to accrue. Act now and get those back taxes filed.

Call David P. Sinclair at 907.222.4031 if you need help with back taxes and the IRS.

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