If you didn’t file for taxes some time ago, you might be in for a big surprise!

IRS Tax Debt

Tax debt is any taxes that you owe to the IRS after the filing deadline. It does not matter if you filed your tax return before the filing deadline and paid a partial amount of your tax bill. The remaining balance will still be considered tax debt.

Debt Increases With Time

If you didn’t pay your taxes, they will incur a hefty penalty. The IRS will charge up to a 0.5% penalty on the total amount of tax debt. Every month, the IRS charges interest on that total tax debt on top of your penalties. As the total amount of debt increases, every month you’d have to shoulder penalties and interest over time, and it will grow exponentially.

How Simple Is Qualifying?

Considering that the Fresh Start Program is a federal program, you would think meeting the qualifications may be very difficult, but really, it’s a lot simpler and quicker than you think. Take the following steps in order to find out if you are eligible in as little as 3 minutes.

  1. Fill out some basic information about yourself and your back taxes here.
  2. Have a representative reach out to you to discuss your eligibility.
  3. Go through the enrollment process and finally reduce or eliminate your tax liabilities.