Step-by-Step Guide to Enroll in the IRS Fresh Start Program for Debt Relief
How to Apply for IRS Fresh Start Program
The IRS Fresh Start Program is designed to provide relief to individuals and businesses who are struggling with tax debts. This program offers various options for resolving tax liabilities, including payment plans, offer in compromise, and partial payment installment agreements. If you are interested in applying for the IRS Fresh Start Program, here is a step-by-step guide to help you through the process.
1. Gather Required Documents
Before you begin the application process, gather all necessary documents to support your request. This includes:
– Tax returns for the past three years
– Proof of income, such as pay stubs, W-2 forms, and 1099 forms
– Bank statements for the past three months
– A detailed list of your assets and liabilities
– Any correspondence you have received from the IRS
2. Determine Eligibility
The IRS Fresh Start Program has specific eligibility requirements. To qualify, you must meet the following criteria:
– Have a balance due on your tax debt
– Be in compliance with all filing and payment requirements
– Not be currently under examination by the IRS
If you meet these requirements, you can proceed with the application process.
3. Complete the Application Form
The IRS Fresh Start Program application is completed using Form 9465, Installment Agreement Request. This form is available on the IRS website (irs.gov). Follow these steps to complete the form:
– Fill out Section 1 with your personal information, including name, address, and Social Security number.
– In Section 2, list your assets and liabilities, as well as your monthly income and expenses.
– In Section 3, indicate the payment amount and duration you wish to have for your installment agreement.
– In Section 4, provide any additional information or documentation that may support your application.
4. Submit the Application
Once you have completed Form 9465, submit it to the IRS. You can do this by:
– Mailing the form to the appropriate IRS office
– Filing the form online through the IRS website
– Calling the IRS and requesting assistance in submitting the form
It is important to note that submitting the form does not guarantee approval. The IRS will review your application and make a decision based on the information provided.
5. Follow Up
After submitting your application, keep in mind that it may take several weeks for the IRS to review your request. During this time, ensure that you remain in compliance with all tax filing and payment requirements. If you are contacted by the IRS regarding your application, respond promptly and provide any additional information requested.
By following these steps, you can apply for the IRS Fresh Start Program and potentially resolve your tax debt. Remember that it is crucial to be honest and provide accurate information throughout the process to increase your chances of approval.
