Search Posts
Recent Posts
- Tips to help taxpayers make sure their donations go to legitimate charities November 14, 2023
- Individual retirement accounts can be important tools in retirement planning November 14, 2023
- Cyber Security Awareness November 14, 2023
- Buying and Selling with Virtual Currency September 6, 2023
- Business travelers should check out these deductions before hitting the road September 6, 2023
Categories
Subscribe!
Thanks for subscribing! Please check your email for further instructions.
PEOPLE FIRST INITIATIVE
To help taxpayers facing challenges due to COVID-19, the Internal Revenue Service (IRS) has announced 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.
“The new IRS People First Initiative provides immediate relief to help people facing uncertainty over taxes,†IRS Commissioner, Chuck Rettig notes. In addition to the extended tax deadline, the IRS is working on new legislation to ease the burden of those taxpayers facing issues. “During this difficult time, we want people working together, focused on their well-being, helping each other and others less fortunateâ€, Retting explains.
The new IRS People First Initiative provides immediate relief to individuals facing uncertainly over taxes. These new changes range from postponing certain payment related Installment Agreements and Offer in Compromise to collection and limiting certain enforcement actions. The IRS will be temporarily modifying many activities as soon as possible; this initiative started on April 1 and the effort will initially run through July 15. During this period, to the maximum extent possible, the IRS will avoid in-person contacts. However, the IRS will continue to take steps where necessary to protect all applicable statutes of limitations.
More specifics about the implementation of these provisions can be found on the IRS website at: https://www.irs.gov/newsroom/irs-unveils-new-people-first-initiative-covid-19-effort-temporarily-adjusts-suspends-key-compliance-program