The Internal Revenue Service (IRS) recently announced its People First Initiative that will provide individual taxpayers much needed relief on a range of compliance matters. The relief comes as people across the U.S. are adjusting to challenges brought on by the COVID-19 pandemic, and it will be effective through the revised July 15, 2020, tax filing and payment deadline.
The relief provisions include a temporary suspension of payments due under existing Installment Payment Agreements and pending Offers in Compromise. They also limit certain enforcement actions under those programs, such as field collection activities and automated liens and levies. The IRS will also temporarily suspend use of private debt collection agencies during the relief period. For an estimated one-million taxpayers who haven’t filed tax returns in the last three years, yet are owed refunds, the Initiative will also effectively extend the deadline for claiming refunds on 2016 tax returns.
Additional information on the People First Initiative is available at IRS.gov.
If you would like additional guidance on the relief provisions under the IRS People First Initiative, or for additional guidance related to COVID-19, visit PYA’s COVID-19 hub, or contact one of our PYA executives below at (800) 270-9629.