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IRS s "Fresh Start" Program Expands Payment Options.

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  • Author(s): Gervie, Mary Lou
  • Source:
    Journal of Accountancy. Oct2012, Vol. 214 Issue 4, p56-59. 4p. 1 Chart.
  • Additional Information
    • Subject Terms:
      Back taxes; Tax collection; Tax amnesty; Taxpayer compliance; Tax returns; United States. Internal Revenue Service
    • Subject Terms:
      United States
    • Abstract:
      The article looks at policies of the U.S. Internal Revenue Service (IRS) as of 2012 regarding individuals who do not have the ability to pay taxes owed in full. The author notes that regardless of ability to pay, it is always best to file on time, and says the IRS has expanded its programs for working with taxpayers to address past tax liabilities. She describes the agency's Fresh Start program, under which taxpayers can easily seek permission to pay tax arrears in installments. She also says that the agency may settle tax debts for less than the original amount owed, referred to as offers in compromise (OIC).