IRS Offers Help for Taxpayers Struggling with Outstanding Tax Debts by Rick Bazzani, CPA

Posted on December 08, 2020 by Rick Bazzani

If you are struggling to pay an outstanding tax liability under the financial pressure of the COVID-19 health crisis, help has arrived. On November 2, the IRS unveiled a Taxpayer Relief Initiative, offering new tools and payment options for individuals and businesses to settle unresolved tax debts.

The IRS has always offered taxpayers different options for settling unpaid tax bills, including offers in compromise and installment agreements that allow balances to be paid over a specific period of time. Under the new Taxpayer Relief Initiative, these options have been expanded to include the following measures:

In addition, the IRS is offering qualifying taxpayers reasonable cause assistance and first-time penalty abatement relief as well as the ability to request delays to the collections process.

If you are having difficulty meeting your outstanding tax liabilities, speak up. It is critical that you reach out to your CPA and tax advisors to help you work with the IRS and establish a plan for achieving tax compliance sooner, rather than later.

About the Author: Rick D. Bazzani, CPA, is a senior manager in the Tax Services practice of Berkowitz Pollack Brant Advisors + CPAs, where he provides individuals and business owners with a broad range of tax-efficient estate, trust and gift-planning services.  He can be reached in the CPA firm’s Ft. Lauderdale, Fla., office at (954) 712-7000 or at