On February 24, 2011, the IRS announced its “Fresh Start Initiative” which consists of changes that are supposed to soften some of the collection practices, and provide at least some tax relief to Americans who are struggling to pay their taxes. So far we know that the IRS has made adjustments to their lien filing procedures, which is supposed to result in fewer lien filings. The IRS is making it easier for small businesses to pay back what they owe through Installment Agreements. And the Streamlined Offer in Compromise should be in full swing by now.
However, several ambiguities are present in the Fresh Start Initiative. And while these changes are supposed to help the struggling taxpayer in theory, we have yet to see the real life impact.
But the IRS speaks again on the matter next week by webinar. Maybe we’ll get a few more details, or examples, or something. If you want to participate, you need to register online here: IRS Live presents: “The Fresh Start Initiative — Help for Struggling Taxpayers.” The webinar will take place Wednesday, August 31st at 2:00pm EST. There will be a panel of speakers, so hopefully that means it’s not a rehash of what the IRS has already revealed about the program.