We’ll make sure we have adequate resources available to work complex cases or address egregious non-compliance. WASHINGTON — To help people facing the challenges of COVID-19 issues, the Internal Revenue Service announced today a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions. I’m from Louisiana originally, and I know this has been a difficult year in many states dealing with both COVID and natural disasters. The IRS will continue to monitor this as situations develop. The People First Initiative is designed to help people take care of themselves and is a key part of our ongoing response to the coronavirus effort.". Find help for individual and families affected by the novel coronavirus (COVID-19). Please don’t ignore the notice arriving in your mailbox. When appropriate, we want to help taxpayers by taking steps like abating penalties, extending payment plans, expanding access to installment agreements, and providing relief for taxpayers having difficulty meeting the terms of previously accepted offers to settle tax debts. • No. Tax liens, like mortgage liens, give the IRS the right to certain assets if you don't pay. Because any agreement with the IRS via an installment agreement or OIC depends largely on the taxpayer’s financial circumstances, taxpayers who have been severely affected by the COVID-19 outbreak should strongly consider submitting a request for an installment agreement or an OIC now to obtain a more favorable agreement with the IRS. Existing installment agreement payments due between April 1 and July 15 are suspended. Taxpayers are encouraged to promptly respond to any outstanding requests for information for all cases in the Independent Office of Appeals. The IRS noted that it was considering issuing additional guidance besides the FAQs, noting that they are responses to general inquiries and not “citable as legal authority.” For more news and reporting on the coronavirus and how CPAs can handle challenges related to the outbreak, visit the JofA’s coronavirus … A tax levy gives the IRS the right to seize certain assets. If the taxpayer has fully recovered or simply wishes to resume payments, it … And we’ll work to secure the government’s interests in the event of future bankruptcies to uphold the laws and help ensure fairness in the tax system. Second, we’ll remove bureaucratic barriers and expand flexibilities to all taxpayers whose financial condition has been affected by COVID-19. And if you need the services of a tax professional, that’s a great option as well. Our people can help you walk through it. By law, interest will continue to accrue on any unpaid balances. First time abatement relief is also available for the first time a taxpayer is subject to one or more of these tax penalties. Offers in compromise (OIC). Changes to user fees are effective for installment agreements entered into on or after April 10, 2018. As the Deputy Commissioner, SB/SE Collection and Operations Support, Darren provides executive leadership for over 9,800 employees. Here’s the bottom line: If you’re struggling with your tax bill, reach out to us. The IRS will not default any installment agreements during this period, though interest will continue to accrue on any unpaid balances. We will continue to work refund claims where possible, without in-person contact. How to Get Relief from IRS Installment Agreement Payments You can stop sending payments to the IRS until July 15 without risking a default on your payment plan. No New Private Debt Collection New delinquent accounts will not be forwarded by the IRS to private collection agencies for collection starting April 1, 2020 through July 15, 2020. Taxpayers who are unable to comply with the terms of an installment payment agreement may suspend payments during this period. For individuals, balances over $25,000 must be paid by Direct Debit. Economic Impact Payments We started issuing Economic Impact Payments in April. During this difficult time, we want people working together, focused on their well-being, helping each other and others less fortunate. Highlights of the key actions in the IRS People First Initiative include: Existing Installment Agreements –For taxpayers under an existing Installment Agreement, payments due between April 1 and July 15, 2020 are suspended. (Individuals and Out of Business entities only). Corona Virus COVID-19 IRS Tax Relief – Back Taxes Help March 25, 2020 | Mike Habib, EA For individual and business taxpayers facing hardship, back taxes, payment plans, installment agreements, offer in compromise, tax filings, tax levies, garnishments, liens, compliance and other IRS tax matters. Taxpayers who are currently unable to comply with the terms of an Installment Payment Agreement, including a Direct Debit Installment Agreement, may suspend payments during this period if they prefer. The IRS will be temporarily modifying the following activities as soon as possible; the projected start date will be April 1 and the effort will initially run through July 15. Installment agreements: The IRS is suspending payments due on existing installment agreements from April 1 to July 15, but interest continues to accrue on the balance. ", Page Last Reviewed or Updated: 31-Mar-2020, Request for Taxpayer Identification Number (TIN) and Certification, Employers engaged in a trade or business who pay compensation, Electronic Federal Tax Payment System (EFTPS), Treasury Inspector General for Tax Administration, IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance program. Our three main goals to help taxpayers are: Here’s an important point people shouldn’t overlook. We care, a lot. By law, interest will continue to accrue on your unpaid balances. Stay safe and take care of your families, friends and others. Must I pay on my existing IRS Installment Agreement during the Coronavirus pandemic? In instances where statute expirations might be jeopardized during this period, taxpayers are encouraged to cooperate in extending such statutes. 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