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IRS Offers Help to Financially Distressed Taxpayers

Categories Tax Tips (Fed)

The IRS announced a number of new steps they are taking to help financially distressed taxpayers maximize their refunds and speed payments while providing additional help to people struggling to meet their tax obligations.IRS employees have flexibility to work with struggling taxpayers to assist them. Depending on the circumstances, taxpayers in hardship situations may be able to adjust payments for back taxes, avoid defaulting on payment agreements or possibly defer collection action. Among the areas where the IRS can provide assistance:

  • Postponement of collection actions. 
  • Added flexibility for missed payments.
  • Additional review for offers in compromise on home values.
  • Prevention of offer in compromise defaults.
  • Expedited levy releases.

Taxpayers with financial problems who discover they can’t pay when they file their 2008 tax returns also have options available. IRS.gov has a list of “What If?” scenarios that deal with payment and other financial problems. These scenarios, in question-and-answer format, provide information on specific actions taxpayers can take. Taxpayers unable to pay in full can likewise contact the IRS to discuss additional options to pay.

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