IRS payment plan
Our Mission is to help save you thousands of dollars with the aid of our tax experts, programs, and resources.
IRS payment plan
A payment plan if offered by the Internal Revenue Service (IRS) with the promise to pay what you owe in tax debt in a certain time frame. If you qualify for the payment plan, you will not be help responsible for any user fees or liens. Default in payment for your tax debt can lead to the IRS filing a Notice of Federal Tax Lien and/or an IRS levy action.
Durning your enrollment in the payment plan, your upcoming tax refunds will be applied to the debt until the amount owed has been sufficed. Due to the fees and interest accumulating, it is recommended, that you pay down the your tax debt, as much as you financially can afford, and finish the remaining balance with the payment plan.
Our tax experts can analyze your tax debt situation and determine if you are eligible for a short-term payment plan.
setting up the IRS payment plan
Setting up the IRS payment plan will require a few steps to have been completed first. All unfilled tax returns must be turned in or this will result in a rejection of you application. After submitting your unfilled tax returns, you then will apply for the payment plan by filling out a Form 9465 (Installment Agreement Request). Once it is filled out, you can submit it online or sending it in the mail. The payment plan you will be granted differs depending on you tax debt situation.
am I eligible for payment plans
Your current tax circumstance will be the deciding factor on what payment options will be offered to you. Payment plans includes monthly short-term payments(installed agreement), a long-term payment(installment agreement) or the full payment. The following is a chart for reference.
|
Types Of Plans
|
Who Qualifies
|
|---|---|
|
Short-Term Payment Plan (180 days or less)
|
Individuals who owe less than $100,000 in total
|
|
Long-term payment plan (180 days or more)
|
Individuals who owe $50,000 or less Businesses that owe $25,000 or less Those who owe up to $250,000 can now qualify, in some cases
|
|
Long-term payment plan (180 days or more)
|
Individuals who owe $25,000 or less Businesses that owe $10,000 or less
|
ready for tax relief?
Click to speak with one of our tax experts. Answer some basic questions and one of our team members will reach out to you!
