Today's Tax Minute

The radio program "Tax Minute" can be heard every weekday morning at 6:25 on WCRN 830 AM.

FRESH START PROGRAM (4)
All this week we've been talking about the IRS "Fresh Start" program which dramatically changed the rules surrounding a Notice of Federal Tax Lien. As I said earlier this week, the IRS doubled the threshold for the filing of an automatic tax lien from $5,000 in past due taxes to $10,000 in past due taxes. To help taxpayers even more, if you owe the IRS $25,000 or less and enter into a Direct Debit Installment Agreement, which is an Installment Agreement where the IRS automatically takes your payment out of your bank account each month, the IRS will not file a Notice of Federal Tax Lien. If you enter into a Direct Debit Installment Agreement that meets this criteria and a Notice of Federal Tax Lien has been filed, after 3 consecutive direct debit payments the IRS will withdraw the lien if you request that they do so.

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