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IRS Passes “People First Initiative” to Ease Burden Caused by COVID-19

IRS Passes “People First Initiative” to Ease Burden Caused by COVID-19

IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance program

The IRS has passed the ‘People First Initiative’ to further ease the burden caused by COVID-19. The goal of program is for the IRS to make further concessions to assist taxpayers from 4/1-7/15. 

 ·         Existing installment Agreements – payments between 4/1 & 7/15 are suspended. Taxpayers have the option to suspend payments (including a direct deposit payment). Interest will still accrue on the balance due

·         Field Collection Activities – All suspended until 7/15 – this includes existing liens and levies

·         Automated liens & levies – new systemic (computer generated) liens & levies will be suspended

·         Passport certification w/ states (over 50k owed) – will be suspended until 7/15

·         Private Debt Collection – new delinquent accounts will not be forwarded to the IRS private collection agencies

·         Field, Office & Correspondence Audits – IRS will not start any new audits until after 7/15

·         Statute of Limitations – Statute of limitations expiring between 4/15 & 7/15 the taxpayers are encouraged  to cooperate in extending the statute

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We're a well-established tax and accounting, mortgage, and financial advisory firm operating since 2000. We serve our clients from three Central Florida locations. Our expertise extends to both domestic and international concerns when it comes to investing and doing business in Florida and beyond.

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