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
