If you’re a taxpayer struggling with tax debt and have not received your stimulus check, there’s a new program that may help you benefit from the stimulus as a credit towards your unpaid tax debt.
The Recovery Rebate Credit provides individuals a new tax credit that they can claim on their 2020 taxes. With the new program, taxpayers can now claim the credit on their 2020 returns.
Even if you don’t file taxes normally, you can still be eligible for this credit. If eligible, you will receive money back on your tax return amounting to what you should have received in 2020 for your Economic Impact Payment, or stimulus.
While this alone will not dissolve tax debt for most Americans with liabilities, combining the credit with another relief opportunity can get you back on your feet.
Don’t miss your opportunity to apply for tax relief –click here to check eligibility and to see what options are available to you.
Tax Relief Options Are Available
In addition to the new Recovery Rebate Credit, there are relief initiatives to significantly reduce or wipe out tax debt.
The Fresh Start Program, for example, has a few varying relief options that you may qualify for. Taxpayers utilizing Fresh Start are seeing more money in their pockets during tax season than they would have with a liability on their account.
Now, with this new credit opportunity, more taxpayers will be seeing money back, even if they owe back taxes.
Questions about how COVID-19 will affect your tax debt balance? Click here to request to speak with a FreshStartInfo Representative.
How to Qualify for Tax Relief and Recovery Rebate Credit
Qualifying for Fresh Start is much easier than it has been in the past. More Americans are being approved for better plans or reduced liabilities. In fact, some tax liabilities are being reduced by as much as 95% or more.
While the Fresh Start program will still be around next year, the likelihood of wiping out this much tax debt will decline as society finds its way back to normalcy.
It’s because of the global pandemic that millions of Americans are now able to resolve their back taxes without sinking further into financial hardship.
Negotiating for relief and properly filing for Recovery Rebate Credit can be a bit confusing. A tax professional can assist you with your filing and Fresh Start relief so that you get the relief you deserve and the funds you need as soon as possible.
What To Do Next
To ensure you do not miss out on your chance to get rid of your tax debt once and for all:
- Click Here to complete our free survey for eligibility and receive more information
- Speak to a Verified FreshStartInfo Partner for a FREE Consultation
- Discover how much your tax debt can be reduced through the IRS Fresh Start Program