Charleston, WV, October 7, 2014: Tax resolution specialist attorney Jeffrey T. Jones, founder of the Law Offices of Jeffrey T. Jones, and best-selling author of “Protect and Defend” has posted a new blog on his website entitled “The IRS Fresh Start Program Provides Greater Relief for Struggling Taxpayers.” The number of individuals and businesses having trouble paying their taxes has been on the rise ever since the economic downturn. And, according to attorney Jones, “the IRS has created the Fresh Start Program to offer struggling taxpayers more viable options for resolving their tax issues in order to avoid liens and levies.” For those who owe less or more, Jones says there are options as well, however, the most flexible options are available for those who owe between $15,000 and $50,000.
Jones says, “If you find yourself in the position of owing $50,000 or less and not being able to pay your tax debt in full, you may be eligible for an installment agreement. However, in order to qualify, you must be compliant.” Compliancy is being up-to-date on filing taxes. And, according to Jones, “Once you’ve entered into an installment agreement, you must remain compliant.” He explains saying, “The IRS does not want taxpayers to fall into what they call a “pyramiding” situation where consecutive years’ taxes are continuously added.”
The time allowed for making installment payments to the IRS has been making it much easier on the taxpayer. Jones states that, “Historically you would have had 60 months or 5 years to pay in full. The Fresh Start program now allows a full 6 years to satisfy your obligation.”
Jones also includes information about offers in compromise. He states, “An offer in compromise is a contract between the taxpayer and the government in which the taxpayer agrees to settle the tax owed for less than the full amount. While the OIC is not new”, Jones continues, “the IRS has significantly changed the program making the qualifications for settlement more flexible by expanding the types of allowable living expenses and revising the required calculation of a taxpayer’s future income.”
The entire blog can be read at here.
About Jeffrey T. Jones
Jeffrey T. Jones has more than 25 years of experience and served as the former President of the West Virginia Association for Justice and is a Personal Injury, Wrongful Death and IRS Tax Attorney in Charleston, West Virginia. In his work, he helps individuals and businesses resolve their IRS tax problems. He is the author of the bestselling book “Protect and Defend.” He has also written Special Reports dealing with business payroll taxes and ways to solve your IRS problems.
About the Law Offices of Jeffrey T. Jones
For quality, dependable legal representation, clients throughout West Virginia rely on the Law Offices of Jeffrey T. Jones, PLLC in Charleston, West Virginia. Our office serves clients from Charleston to Huntington, from Beckley to Princeton and as far as Clarksburg. We take a personal interest in each client’s case and if they have a question or concern they know they can call and personally speak with an attorney. Personal service is what we offer to all of our clients.