The IRS has unveiled the People First Initiative to assist taxpayers with challenges stemming from COVID-19. Key provisions include:
- Existing installment agreements due between April 1 and July 15, 2020 are suspended temporarily. In order to request the temporary request to suspend payment, you will need to contact the IRS.
- Extension of time to provide certain additional information relating to Offers in Compromise has been extended to July 15, 2020. Additionally, taxpayers have the option to suspend all payments on accepted OICs until July 15, 2020 (although interest will continue to accrue)
- The IRS will generally not start new field, office and correspondence examinations during the period between April 1, 2020 and July 15, 20202.
For additional items and to see the press release, visit –