As Tax Day approaches, here are three new programs and policies that the IRS is offering to help individual taxpayers.
1. Making Offers in Compromise a Bit Easier. An offer in compromise is a program in which the IRS and the taxpayer agree to settle the taxpayer’s debt for less than the full amount. As many taxpayers have learned the hard way, the IRS has gotten much tougher in recent years in extending offers in compromise. Now finally the IRS is throwing the taxpayer a bone, of sorts. Instead of merely looking at a taxpayer’s prior income, the IRS offer in compromise officers can now look at the taxpayer’s potential for future income. Of course, this new policy is a double-edged sword since if the officer believes that the taxpayer’s future income will be significantly more than past earnings, that too can be taken into consideration.
2. Saturday Open Houses. The IRS will host hundreds of open houses across the country on Saturdays beginning March 27th, with exact times and locations to be announced. During these open houses taxpayers will be able to work directly with IRS employees to ask questions and address issues such as economic hardships and ask questions about special tax credits.
3. Relief for the Unemployed. The IRS will be coordinating with state revenue and workforce agencies to help taxpayers who are unable to meet their tax liabilities due to unemployment or other financial problems. Assistance may include such things as installment payment arrangements. Taxpayers who are unemployed or are otherwise financially strapped can find information and resources on a new page on the IRS website.
More information on these new programs and policies can be found on the IRS’s website.
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